Emirates Water and Electricity Company, EWEC, a subsidiary of Abu Dhabi Power Corporation, ADPower, and Saudi Arabia’s ACWA Power have announced the successful financial closing of the world’s largest reverse osmosis desalination plant.

The new plant will be located at the Taweelah power and water desalination complex in Abu Dhabi, with completion expected in 2022. ADPower and Mubadala Investment Company hold a 60% equity interest in the Taweelah project while ACWA Power holds the remaining 40%.

The project is to cost AED3.19 billion, with funding sourced from a combination of senior project finance loans worth a total of AED2.71 billion, in addition to equity contributions from shareholders and operating cashflow from pre-operations.