The 900 MW fifth phase of the solar park will become operational in stages starting Q2 2021
DEWA has announced that the consortium led by ACWA Power and Gulf Investment Corporation is the preferred bidder to build and operate the 900 MW 5th phase of the Mohammed bin Rashid Al Maktoum Solar Park (MBR Solar Park) based on the Independent Power Producer (IPP) model.
For this phase, DEWA has achieved a world record by receiving the lowest bid of $1.6953 cents per kilowatt hour (kW/h) for this phase.
HE Saeed Mohammed Al Tayer, MD & CEO of DEWA, said: “We support the Dubai Clean Energy Strategy 2050 to provide 75% of Dubai’s total power output from clean energy by 2050 and make Dubai the city with the lowest carbon footprint in the world.”
“To achieve this, DEWA launched several leading renewable projects, including the MBR Solar Park- the largest single-site solar park in the world. Using the Independent Power Producer (IPP) model, it will have a capacity of 5,000MW by 2030 with investments totalling AED 50 billion [$13 billion].”
Within the scope of this project, 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. The current total production capacity of solar projects at the solar park is 713MW. DEWA is building three other projects with a total capacity of 1,250MW, while the 900MW 5th phase of the solar park will increase the production capacity to 2,863MW.
The projects at the MBR Solar Park are of great interest to international developers and reaffirms investor confidence in the major projects that are supported by the Government of Dubai.
Additionally, DEWA stated that 5th phase of the solar park will become operational in stages starting Q2 2021. The project documents, power purchase agreement, and financial close agreements will be signed in due course.