DEWA receives world’s lowest bid of $1.69 cents per kW/h for MBR Solar Park

The winning bid will be announced next month from the nine consortiums and companies who had qualified to send their bids

Dubai Electricity and Water Authority (DEWA) has achieved a world record by receiving the lowest bid of $ 1.6953 cents per kilowatt hour (kW/h) for the 900MW 5th phase of the Mohammed bin Rashid Al Maktoum Solar Park. This phase will become operational in stages starting in Q2 of 2021.

HE Saeed Mohammed Al Tayer, MD & CEO of DEWA said: “For the fifth time, DEWA has achieved a world record in getting the lowest price for PV solar power projects based on the IPP model. This shows the priority our wise leadership gives to clean and renewable energy projects, which has contributed to its global cost reduction.”

“The projects at the Mohammed bin Rashid Al Maktoum Solar Park, the largest single-site solar park in the world, are of great interest to international developers and reaffirms investor confidence in the major projects that are supported by the Government of Dubai.”

“DEWA has attracted huge investments to the UAE from the private sector and foreign banks, leading to increased cash flow to the economy of Dubai and the UAE,” he added.

Al Tayer further noted that DEWA is committed to completing the phases of the Mohammed bin Rashid Al Maktoum Solar Park according to the highest international standards. This will be done using the latest solar power technologies to enhance the shift towards a green economy by increasing its share of clean and renewable energy, he said.

Furthermore, DEWA received 60 RFQs from developers to build and operate the 900MW project, while 9 consortiums and companies qualified and were asked to send their bids. These bids are being studied and the winning bid will be announced next month.

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