Acwa Power, a leading developer, owner, and operator of power generation and water desalination plants based in Saudi Arabia, said it has joined hands with three international groups – Spanish company Abengoa and Chinese firms Industrial and Commercial Bank of China Limited (ICBC), Shanghai Electric Group Company (SEGC) – to set up the world’s largest renewable energy project in Dubai, UAE.

As per the deal, Acwa Power is lead developer on the project, while ICBC has established its role as an international lender for Noor Energy 1.

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