By Riyaz ul Khaliq
ANKARA (AA) – Japan will provide financial assistance to help build one of the world’s largest solar power plants in Qatar, local media reported on Thursday.
According to Kyodo News, the state-backed Japan Bank for International Cooperation (JBIC) and Mizuho Bank will extend a $330 million syndicated loan for the 800-megawatt project in Al Kharsaah, a village in western Qatar.
“This loan is expected to contribute to further strengthening of the multilayered economic ties between Japan and Qatar,” JBIC said in a statement.
A consortium of Japanese firm Marubeni Corporation, French oil giant Total, and a Qatari energy firm will own and manage the solar power plant, which is slated to be functional by April 2022.
The consortium will sell electricity for 25 years to Qatar General Electricity and Water Corporation, according to the statement.
The facility will use double-sided photovoltaic panels that “can also absorb sunlight reflected by the ground onto their rear side,” it added.
The project is part of Qatar’s plans to diversify its energy sources, with the liquefied natural gas-rich Gulf country aiming to increase the proportion of renewable energy in its total power generation to 20% by 2030.