UAE: Abu Dhabi National Energy Company (TAQA), along with French multinational utility company ENGIE and Emirates Water and Electricity Company (EWEC), has announced the financial closing of the AED2.3 billion (US$626.09 million) low-carbon Mirfa 2 Reverse Osmosis desalination project, which includes an Islamic bank, a bourse filing showed.
The project is primarily funded (78%) through debt financing from both local and international banks, including Abu Dhabi Islamic Bank, BNP Paribas Fortis, Sumitomo Mitsui Banking Corporation, The Norinchukin Bank, BNP Paribas and KfW IPEX-Bank.