Abu Dhabi's state renewable energy arm, Masdar, said Monday it had lined up $600 million in financing for its first large-scale solar project, the 100 MW Shams-1 development. Shams-1, a joint venture owned 60% by Mubadala subsidiary Masdar, 20% by France's Total and 20% by Spain's Abengoa, expects construction on the power station, located 120 km southwest of Abu Dhabi, to take two years. Construction began in the third quarter of last year.
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