London: The Masdar-led group building Shams 1, the Middle East's first concentrating solar power (CSP) plant, has nailed down $600m in financing from ten regional and international lenders. The 100MW parabolic-trough project is owned by Abu Dhabi-based clean-energy company Masdar (60%), French energy giant Total (20%) and Spanish CSP specialist Abengoa (20%).
The group says the non-recourse, 22-year loan package was oversubscribed, with commitments totalling more than $900m.
