BESIX reaches financial close on 200 MW Al Warsan 2 Waste-to Energy project
BESIX has achieved financial close on the Dubai Waste-to-Energy project, a USD1.2 billion public-private partnership.
The Dubai Waste-to-Energy plant was procured by Dubai Municipality. With an annual treatment capacity of 1.9 million tonnes of waste diverted from landfill, the project will generate 200 MW of electricity.
The equity investor consortium comprises leading private and public operators from the Middle East, Asia and Europe: Dubai Holding, DUBAL Holding, ITOCHU, HZI, BESIX and Tech Group.
The debt provider group comprises Japanese export credit agency Japan Bank for International Cooperation (JBIC) alongside international lenders Crédit Agricole Corporate and Investment Bank, KFW IPEX-Bank GmbH, Mizuho Bank, Ltd, Siemens Bank GmbH, Société Générale, Standard Chartered Bank and Sumitomo Mitsui Banking Corporation. Japanese export credit agency Nippon Export and Investment Insurance (NEXI) provided loan insurance.
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