To contribute to Abu Dhabi’s target of 7% power-generation capacity via renewable energy by the year 2020, Masdar, along with its partners Total and Abengoa, developed Shams 1 CSP in Abu Dhabi’s Western Region. The US$600 million installation uses parabolic mirrors to harness the sun’s thermal energy.
Backing an innovative technology carries inherent risks. We helped manage and mitigate the risks by providing an integrated service. This involved advising lenders on the appropriateness and robustness of the technologies, assessing forecast project performance, reviewing contractual arrangements and advising on compliance with international standards.
After successfully bringing the project to financial close, we supervised construction and are now monitoring operation of the commercial plant.
The plant is helping the UAE to diversify its energy mix and reduce the country’s carbon footprint. It will displace about 175,000 tonnes of carbon dioxide per year, which is equivalent to planting 1.5 million trees or removing 15,000 cars from Abu Dhabi’s roads.