Shams Power Company, a special purpose vehicle formed by Masdar, Total and Abengoa holds holds the equity of the project, 20% of total cost.
The remaining 80% was financed through 20 year non recourse loans, financial close was achieved March, 2011.
Shams 1 lenders included BNP Paribas, KfW, Mizuho, National Bank of Abu Dhabi, Natixis, SociétéGénérale, Sumitomo Mitsui Banking Corporation, The Bank of Toyko-Mitsubishi, Union National Bank and WestLB. BNP Paribas acted as financial advisor.
Shams 1 is the first CSP project to be included in the Clean Development Mechanism of the UNFCC.
PPA details have not been released. Additionally to the PPA with the offtaker, Abu Dhabi's Finance Department has signed a Green Payment Agreement with Shams Power to allow a proper ROI for the project.