Dubai - Mubasher: The Dubai Electricity and Water Authority (DEWA) has awarded the 700 MW AED 14.2 billion fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park to Saudi Arabia’s ACWA Power and China’s Shanghai Electric.
Together, the two companies made bid the lowest Levelised Cost of Electricity (LCOE) bid of 7.3 cents per kilowatt hour (kW/h), the DEWA said in a statement.
The company noted that the power purchase agreement and the financial close will be concluded soon and the project will be commissioned over several stages, as of the fourth quarter of 2020.
“The project will have the world’s tallest solar tower, measuring 260 metres,” DEWA revealed.
Based on the IPP model, the project will generate 1,000 MW by 2020 and 5,000 MW by 2030, DEWA added, noting that the first stage of the 700 MW concentrated solar power (CSP) fourth phase will become operational in the fourth quarter of 2020.
Awarding this strategic project supports the UAE government’s vision to promote sustainability and highlight Dubai as a global centre for clean energy and a green economy, said DEWA managing director and CEO Saeed Mohammed Al Tayer.
“This vision is supported by the Dubai Clean Energy Strategy 2050 to increase the share of clean energy in Dubai’s total power output to 7% by 2020, 25% by 2030, and 75% by 2050," he concluded.
