Dubai: ACWA Power, a leading developer, owner, and operator of power generation and water desalination plants has announced its partnership with the Industrial and Commercial Bank of China Limited (ICBC), Shanghai Electric Group Co. Ltd (SEGC), and Spanish company Abengoa, with regards to the 950MW Noor Energy 1 Plant in Dubai, which is the largest renewable energy project in the world.

ACWA Power is lead developer on the project, while ICBC has established its role as an international lender for Noor Energy 1. Earlier this year, ACWA Power signed an Engineering, Procurement and Construction (EPC) agreement with Shanghai Electric Group Co. Ltd (SEGC). Abengoa is one of the main technology providers and key subcontractors for the plant.