Qatar Co. Lands $1B In Islamic Financing For Solar Plant

Law360, New York (June 1, 2012, 7:31 PM EDT) -- Qatar Solar Technologies sewed up the financing for one of the biggest solar energy-related projects in the Middle East, with a domestic bank providing $1 billion to build a factory that will produce components for solar panel wafers, according to an announcement Friday.

The funding agreement with the Masraf Al Rayan bank — the largest Islamic financing deal in Qatari history — employs a relatively unique murabaha, or deferred payment structure, a mechanism that is growing in popularity as traditional Western financing sources dry up, according...
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