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200MW PRODUCTION

Al Tayer joins other officials at the press conference.

Saudi ACWA consortium wins Dubai solar plant deal

DUBAI, January 15, 2015

Dubai Electricity and Water Authority (Dewa) announced on Thursday that a consortium of Saudi Arabia's ACWA Power and Spain's TSK had been selected as the preferred bidder to build a solar power plant in the UAE emirate.

The utility's chief executive, Saeed Mohammed Al Tayer, also announced that the size of the plant, Phase Two of the Sheikh Mohammed bin Rashid Al Maktoum Solar Park, would be increased to 200 MW of generating capacity from the previous target of 100 MW.

The phase II of the Mohammed bin Rashid Al Maktoum Solar Park is a photovoltaic plant that will be based on the Independent Power Producer (IPP) model and will be operational by April 2017, said Al Al Tayer at a press conference in Dubai.

It was attended by Mohammad Abunayyan, the chairman of Saudi ACWA, which leads the consortium along with Spain’s TSK; Gregory Thomassin, the project manager and financial advisor at KPMG and CamiloVaras, the technical advisor at Lahmeyer International besides Waleed Salman, the executive VP of Strategy and Business Development at Dewa.

“Today, Dewa adds another solar facility at the Solar Park, which is one of the largest renewable energy projects in the region. With a planned total cost of Dh12 billion ($3.26 billion), the Solar Park will produce 1,000 MW of electricity when completed in 2030,” said Al Tayer.

According to him, Dewa received 49 qualification documents for phase II of the Mohammed bin Rashid Al Maktoum Solar Park.

“The number of bidders, and the competitive price we received, demonstrates the trust that international investors have both in Dubai and in Dewa, and is a testament of our transparency in all our projects in addition to the utility's strong financial position. Dewa has been upgraded lately by Moody’s to Baa2, and Standard & Poor’s has given a credit rating of BBB,” stated Al Tayer.

The project, which occupies 4.5 sq km, will help to achieve a reduction of 250,000 tonnes of carbon emissions annually, said the Dewa chief.

This supports the green initiatives and programmes of the Government of Dubai to reduce carbon emissions. This project will increase the size of solar energy projects in Dubai to 220 MW, he added.

Tayer later told reporters on the sidelines of the event that the deadline for bidders wanting to build the 1,200 MW Hassyan clean coal project had been delayed until March.

The submission date had been at the end of this month.-Reuters and TradeArabia News Service




Tags: Dubai | Solar plant | Saudi Acwa |

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