Masdar is leading bidder for mega solar project
The Al Maktoum Solar Park completes tenders for its 6th phase, and is set to come online by late 2024
The Dubai Electricity and Water Authority (DEWA) has announced that Abu Dhabi energy group Masdar has emerged as the preferred bidder for the construction and operation of the 1,800MW 6th phase of the Al Maktoum Solar Park project.
The major project is being developed on an ‘independent power producer’ (IPP) model, at a total cost of US $1.5bn.
DEWA has achieved, through this phase, the lowest Levelised Cost Of Energy for any of its solar IPP projects so far, coming in at a remarkably low rate of $1.6215 cents per kilowatt hour (kWh).
The Dubai utility has received 23 expressions of interest from international applicants to develop this project. The Request for Qualification (RFQ) was released to market in November last year.
Announcing the preferred bidder, Saeed Mohammed Al Tayer, MD and CEO of DEWA said, “The 1,800MW 6th phase of the solar park using PV solar panels based on the IPP model will become operational in stages starting from Q4 of 2024. The project documents, Power Purchase Agreement (PPA), and financial close agreements will be signed in due course.”
The total capacity of the solar energy projects commissioned at the solar park has reached 2,427MW. When completed, the solar park will reduce over 6.5m tonnes of carbon emissions annually.
The share of clean energy in Dubai’s energy mix is about 16.3% from its total installed capacity. This percentage will reach 24% in 2026 with the completion of the Sixth Phase and the remaining phases under construction of the Solar Park.
