Calyon has been mandated by the Dubai Electricity & Water Authority along with HSBC, Deutsche Bank and Citibank, to arrange export finance facilities.

The financing is for the purchase of turbines, generation equipment and desalination plants from France (COFACE), Germany (Hermes) and Italy (SACE).

The mandate is part of a framework agreement which is likely to be extended further in stages over the next 18 months as part of a pan-European Export Finance mandate.