DEWA selects a consortium led by ACWA Power and Gulf Investment to build 900 MW PV project
Post date: 25/11/2019 - 11:07
The Dubai Electricity and Water Authority (DEWA) announced that a 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« based on the Independent Power Producer (IPP) model. DEWA has achieved a world record by receiving the lowest bid of ¢1.6953 per kilowatt hour for this phase. The agency has released the tender for the 5th phase in February 2019, and received 60 Requests for Qualifications (RFQ). The facility will become operational in stages starting Q2 of 2021. The project documents, Power Purchase Agreement (PPA), and financial close agreements will be signed in due course, said Saeed Mohammed Al Tayer, CEO of Dubai Electricity and Water Authority.
Dubai targets to provide 75 percent of its total power output from clean energy by 2050. To achieve this, DEWA launched several leading renewable projects, including the »Mohammed bin Rashid Al Maktoum Solar Park«, the largest single-site solar park in the world. Using the IPP model, it will have a capacity of 5,000 MW by 2030 with investments totaling AED 50 billion ($13.6 billion).
The current total capacity of solar projects at the solar park is 713 MW. DEWA is building three other projects with a total capacity of 1,250 MW. The 900 MW will increase the production capacity to 2,863 MW.