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Taqa, EWEC finalise funding for 1GW Al Dhafra Plant
Gulf Today
|December 31, 2025
Abu Dhabi National Energy Company (Taqa), together with Emirates Water and Electricity Company (EWEC), on Tuesday announced the financial closing of Dhs3.6 billion 1GW Al Dhafra Power Plant, which will provide power to data centre projects and advance the UAE National Strategy for Artificial Intelligence 2031.
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The project is primarily funded by around 85 per cent through debt financing from both local and international banks, including, Standard Chartered Bank, Abu Dhabi Commercial Bank, Agricultural Bank of China, Doha Bank, First Abu Dhabi Bank, HSBC, ICBC, KFW, National Bank of Kuwait, RAK bank, Woori Bank, Abu Dhabi Islamic Bank, Boubyan Bank and Ajman Ba
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