Dewa officials....briefed by Shuaa Energy 1 staff
Dubai solar park project Phase II 'on track'
DUBAI, April 4, 2016
The second phase of the Dh1.2 billion ($326.6 million) Mohammed bin Rashid Al Maktoum Solar Park, one of the park's current project in Dubai is on track to be operational by April next year, according to a top official.
Saeed Mohammed Al Tayer, managing director and chief executive officer, Dubai Electricity and Water Authority (Dewa), headed a team on a visit to the park, which holds a capacity of 200 megawatts (MW) and was briefed about the progress made on the second phase from officials from Shuaa Energy 1.
The progress made on the project supports the Dubai Clean Energy Strategy 2050, which aims at providing seven per cent of Dubai’s energy from clean sources by 2020, said a statement.
This target will increase to 25 per cent by 2030 and 75 per cent by 2050, it said.
The second phase is based on the Independent Power Producer model.
Dewa has set a world record by obtaining the lowest price globally, at $5.6 cents per kilowatt (kW). Shuaa Energy 1 is a company established by Dewa to complete the project according to UAE legislation.
Meanwhile, Dewa is the majority shareholder at 51 per cent with Saudi Arabia’s ACWA Power, and the Spanish industrial group TSK taking the remaining stake.
Sheikh Mohammed bin Rashid Al Maktoum inaugurated the second phase of the Solar Park, which is the largest single-site project of its kind in the world, and is based on the IPP model.
It will generate 1,000MW by 2020, and 5,000MW by 2030, with total investments of Dh50 billion. It will help achieve a reduction of approximately 6.5 million tonnes of carbon emissions annually. - TradeArabia News Service
