Abu Dhabi: Union National Bank (UNB) acted as a mandated lead arranger and onshore security agent for a $2.3 billion (Dh8.45 billion) project finance facility to develop the Hassyan 2,400-megawatt Clean Coal Power Project in Dubai.
The project sponsors are Dubai Electricity and Water Authority (Dewa) with a 51 per cent share, and a consortium comprising of ACWA Power — KSA, Harbin Electric International Company, and Silk Road Fund — China.
The subject facility has been underwritten and financed by UNB along with 9 other lenders.
