Al Tayer was briefed by Shuaa Energy 3 officials on the progress made in the second and third projects of the fifth phase of the solar park…reports Asian Lite News
Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), inspected the work progress on the fourth and fifth phases at the Mohammed bin Rashid Al Maktoum Solar Park, the largest single-site solar park in the world with a planned total capacity of 5,000 megawatts (MW) by 2030.
The solar park’s projects constitute one of the critical pillars of the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy to provide 100 percent of Dubai’s total power capacity from clean energy sources by 2050.
Al Tayer was briefed by Shuaa Energy 3 officials on the progress made in the second and third projects of the fifth phase of the solar park. Waleed Bin Salman, Executive Vice President of Business Development and Excellence at DEWA, and the project’s team were present. DEWA is implementing the fifth phase in partnership with a consortium led by ACWA Power and Gulf Investment Corporation using the Independent Power Producer (IPP) model. In 2019, DEWA achieved a world record by receiving the lowest bid of US$1.6953 cents per kilowatt hour (Levelised Cost of Energy) for this phase.
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The fifth phase will be implemented by Shuaa Energy 3, established by DEWA, which owns 60 percent of the shares and the consortium, led by ACWA Power and Gulf Investment Corporation, which owns 40 percent of the rest of the shares.
Work on the 900MW fifth phase with investments totalling AED2.058 billion is progressing as planned. The second project is 93.3 percent complete, while the third project is 23.06 percent complete.
Al Tayer also inspected the progress at the 950MW fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park. The fourth phase uses the IPP model with investments up to AED15.78 billion.
Noor Energy 1 officials briefed him on the work progress in the fourth phase, which is the largest single-site project that combines Concentrated Solar Power (CSP) and photovoltaic technology using the IPP model. The overall construction of the project is 90 percent complete.
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