$2bn in finance is being raised in the UAE by Emirates Nuclear Energy as it seeks to build a nuclear power plant in Abu Dhabi.

Switzerland-based financial services firm Credit Suisse Group and Britain’s HSBC Holdings are advising Emirates Nuclear Energy on the fundraising, with banks such as First Gulf Bank, National Bank of Abu Dhabi, Union National Bank, and Standard Chartered also likely to lend to Emirates Nuclear Energy, according to Energy Business Review.

The company has begun building the nuclear power plant in July at Barakah in Abu Dhabi’s Western Region. The first of the four 1400 MW facilities are expected to be completed in 2017.

For more nuclear power news