UAE's Masdar says financing secured for Uzbekistan solar power project - Arabianbusiness
UAE-based Masdar, the clean energy subsidiary of Mubadala Investment Company, announced on Wednesday the financial close of the Nur Navoi Solar Project, Uzbekistan’s first independent power producer (IPP) solar project.
Loan and guarantee agreements to finance the 100-megawatt photovoltaic plant were signed in a virtual ceremony with representatives from Masdar, Uzbekistan’s Ministry of Investments and Foreign Trade (MIFT), the International Finance Corporation (IFC), Asian Development Bank (ADB), the World Bank Group (WBG) and the European Bank for Reconstruction and Development (EBRD).
The Nur Navoi Solar Project was awarded to Masdar last year after the Abu Dhabi-based company tendered the lowest tariff in a competitive auction.
In November 2019, Masdar signed a power purchase agreement and government support agreement with JSC National Electric Grid of Uzbekistan (NEGU) and the Government of the Republic of Uzbekistan to design, finance, build, own and operate the solar plant, located in the Navoi region.
Friday 25 December 2020
#Dubai sees surge in bank financing, new fintech firms in 2020 | ZAWYA MENA Edition
Dubai sees surge in bank financing, new fintech firms in 2020 | ZAWYA MENA EditionWhile
Dubai’s economy is expected to contract by 6.2 percent in 2020, with the travel and hospitality sectors hit hard by the coronavirus pandemic, the emirate saw a surge in bank financing for the transport, storage and communications sectors, and strong growth in the establishment of new financial technology (fintech) companies licensed to operate.
“Our leadership’s directives were focused on ensuring that the short-term impact of the COVID-19 pandemic does not translate into a long-term economic hardship that would inflict lasting damage on people and businesses by way of job losses and bankruptcies,” Sami Al-Qamzi, director general of Dubai Economy, said in a statement.
According to a report by Dubai Economy, economic growth in the emirate during the first half of 2020 declined by 10.8 percent, and is forecast to contract by 6.2 percent for the full year.
Due to the COVID-19 lockdown, global travel restrictions had a big impact on the hotels and restaurants sector, which contracted by 20 percent, followed by the transport and storage sector (down 11 percent) and the retail and wholesale trade sector (down 9 percent).
“Our leadership’s directives were focused on ensuring that the short-term impact of the COVID-19 pandemic does not translate into a long-term economic hardship that would inflict lasting damage on people and businesses by way of job losses and bankruptcies,” Sami Al-Qamzi, director general of Dubai Economy, said in a statement.
According to a report by Dubai Economy, economic growth in the emirate during the first half of 2020 declined by 10.8 percent, and is forecast to contract by 6.2 percent for the full year.
Due to the COVID-19 lockdown, global travel restrictions had a big impact on the hotels and restaurants sector, which contracted by 20 percent, followed by the transport and storage sector (down 11 percent) and the retail and wholesale trade sector (down 9 percent).
$1.25bln worth of weeklong real estate transactions in #Dubai | ZAWYA MENA Edition
$1.25bln worth of weeklong real estate transactions in Dubai | ZAWYA MENA Edition
The real estate and properties transactions were valued at AED4.6 billion in total during the week ending 24 December 2020, according to the Department of Land and Property in Dubai.
A total of 92 plots were sold for AED482.59 million; 808 apartments and villas were sold for AED1.32 billion.
The top three transactions were a plot of land in Palm Jumeirah sold for AED 60 million; followed by another sold for AED 54.85 million in Saih Shuaib 4; and another one sold for AED60 million in Palm Jumeirah in the third place.
Nad Al Shiba First recorded the most transactions for this week by 18 sales transactions worth AED43.08 million, followed by Al Thanyah Fifth with 13 sales transactions worth AED23.55 million, and Nad Al Shiba Third with 11 sales transactions worth AED27 million in third place.
The real estate and properties transactions were valued at AED4.6 billion in total during the week ending 24 December 2020, according to the Department of Land and Property in Dubai.
A total of 92 plots were sold for AED482.59 million; 808 apartments and villas were sold for AED1.32 billion.
The top three transactions were a plot of land in Palm Jumeirah sold for AED 60 million; followed by another sold for AED 54.85 million in Saih Shuaib 4; and another one sold for AED60 million in Palm Jumeirah in the third place.
Nad Al Shiba First recorded the most transactions for this week by 18 sales transactions worth AED43.08 million, followed by Al Thanyah Fifth with 13 sales transactions worth AED23.55 million, and Nad Al Shiba Third with 11 sales transactions worth AED27 million in third place.
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