June 20 (Renewables Now) - Indian electrical engineering services provider Sterling and Wilson has won contracts to build and operate the 1,177-MWp Sweihan solar photovoltaic (PV) project in Abu Dhabi.
Sterling and Wilson will provide turnkey engineering, procurement and construction (EPC) along with operation and maintenance (O&M) services for the particular project, which is developed by Japan’s Marubeni Corp (TYO:8002), China-based JinkoSolar Holding Co Ltd (NYSE:JKS) and the Abu Dhabi Water and Electricity Authority (ADWEA).
JinkoSolar and Marubeni, each holding a 20% stake in the project, struck a power purchase agreement (PPA) at a price of just USD 0.0242 per kWh with ADWEA's Abu Dhabi Water and Electricity Co (ADWEC) earlier this year. Last month, they also said they had closed a USD-870-million (EUR 780m) debt and equity financing transaction for the scheme.
Construction work has already started. The solar complex is expected to be integrated with the grid in a record timeline of just 23 months, Sterling and Wilson said. As previously announced, the project should be completed in April 2019.
(USD 1.0 = EUR 0.896)