DEWA Awards AED14.2 Billion Largest CSP Project in the World With a Record Bid of USD 7.3 Cents Per kW/h to Generate 700MW

16-Sep-2017 Intellasia | BusinessWire | 6:55 PM Print This Post

DUBAI, United Arab Emirates–(BUSINESS WIRE)–Dubai
Electricity and Water Authority (DEWA)
has achieved another world
record by awarding the 700MW AED14.2 billion fourth phase of the
Mohammed bin Rashid Al Maktoum Solar Park. This is the largest
single-site Concentrated Solar Power (CSP) project in the world, based
on the Independent Power Producer (IPP) model. The contract is awarded
to a consortium comprising Saudi Arabia’s ACWA Power and China’s
Shanghai Electric.

The consortium bid the lowest Levelised Cost of Electricity (LCOE) of
USD 7.3 cents per kilowatt hour (kW/h). The project will have the
world’s tallest solar tower, measuring 260 metres. The power purchase
agreement and the financial close are due to be finished shortly. The
project will be commissioned in stages, starting from Q4 of 2020.

“Awarding this strategic project supports the vision of His Highness
Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister
of the UAE and Ruler of Dubai, to promote sustainability, and make Dubai
a global centre for clean energy and a green economy. 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.

“Our focus on renewable energy generation has led to a drop in prices
worldwide and has lowered the price of solar power bids in Europe and
the Middle East. This was evident today when we received the lowest CSP
project cost in the world,” said HE
Saeed Mohammed Al Tayer

The Mohammed bin Rashid Al Maktoum Solar Park is the largest single-site
solar park in the world, based on the IPP model. It will generate
1,000MW by 2020 and 5,000MW by 2030. The 13MW photovoltaic first phase
became operational in 2013. The 200MW photovoltaic second phase of the
solar park was launched in March 2017. The 800MW photovoltaic third
phase will be operational by 2020, and the first stage of the 700MW CSP
fourth phase will be commissioned in Q4 of 2020.

*Source: AETOS


Ribal Dayekh, +97145151784
[email protected]


Category: BusinessWire, PRAsia

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