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The signing of the Shams 1 solar power project financing in the UAE last month has opened the way for a burgeoning in renewable energy in the Gulf, said Standard & Poors Ratings Services in a new report.

Vision Electro Mechanical Company, a subsidiary of Saudi based Construction Products Holding Company (CPC), plans to construct a 130KW solar power plant in the Kingdoms Bahra region in alliance with California-based SolFocus.

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