Vedanta Resources gets $300 million loan commitment for debt refinancing
The company is looking to upsize the deal and is in advance discussions with other banks for additional loans of $200 million.
Dubai has inaugurated the first phase of a mega solar plant that will help the Gulf emirate to diversify its energy sources.
The first solar ‘park’, 30 km from the city is able at present to produce 10 megawatts of electricity. Eventually that figure will grow to 1,000 megawatts.
The park is named after the United Arab Emirates Vice President and Prime Minister, Mohammed bin Rashid al-Maktoum.
Dubai’s ‘Supreme Energy Council’ is moving to decrease reliance on oil and gas, aiming for solar to provide 5% of its total energy needs by 2030.
