Japan to provide $330M for Qatar huge solar power plant

• Japanese financial institutions will offer substantial financing for one of the world's largest solar plants in Qatar, says a bank declaration

Japan will provide economic assistance to assist build among the world's largest solar power plants in Qatar, regional media reported on Thursday.

According to Kyodo News, the state-backed Japan Bank for International Cooperation (JBIC) and also Mizuho Bank will prolong a $330 million syndicated financing for the 800-megawatt job in Al Kharsaah, a town in western Qatar.

"This finance is anticipated to contribute to more fortifying of the multilayered economic connections between Japan and also Qatar," JBIC claimed in a declaration.

A consortium of Japanese company Marubeni Corporation, French oil giant Total, and a Qatari energy company will certainly have and manage the solar power plant, which is slated to be practical by April 2022.

The consortium will certainly offer electrical power for 25 years to Qatar General Electricity and also Water Corporation, according to the declaration.

The facility will utilize double-sided photovoltaic or pv panels that "can additionally absorb sunshine shown by the ground onto their back side," it included.

The job belongs to Qatar's strategies to diversify its power resources, with the liquefied all-natural gas-rich Gulf country aiming to raise the percentage of renewable resource in its overall power generation to 20% by 2030.