DEWA signs PPA with Masdar for third phase of the Mohammed bin Rashid Al Maktoum Solar Park

Abu Dhabi Future Energy Company (Masdar) will build the 800 MW PV phase of the Mohammed bin Rashid Al Maktoum Solar Park
Abu Dhabi Future Energy Company (Masdar) will build the 800 MW PV phase of the Mohammed bin Rashid Al Maktoum Solar Park

Dubai Electricity and Water Authority (DEWA) has signed a Power Purchase Agreement (PPA) with Abu Dhabi Future Energy Company (Masdar), for the 800 MW third (solar photovoltaic) phase of the Mohammed bin Rashid Al Maktoum Solar Park.

The agreement was signed by Saeed Mohammed Al Tayer, MD & CEO of DEWA, and Dr. Sultan Ahmed Al Jaber, UAE Minister of State and Chairman of Masdar, with Mohamed Jameel Al Ramahi, CEO of Masdar also present.

Earlier this year, DEWA announced the Masdar-led consortium as selected bidder for the third phase of the solar park. The consortium bid the lowest cost of electricity.

“We are pleased to sign the Power Purchase Agreement with Abu Dhabi Future Energy Company to produce 800 MW based on the Independent Power Producer model for the third phase of the Mohammed bin Rashid Al Maktoum Solar Park, which is the largest single-site solar park in the world, with a planned capacity of 5,000 MW by 2030,” said Al Tayer.

According to media reports the negotiated price per kWh of solar power is approximately below USD 0.03/kWh.

“Masdar is proud to partner with DEWA on this important milestone in the development of the UAE’s solar energy capacity. This agreement demonstrates the competitiveness of solar as a commercially-viable clean energy source for electricity generation. It is through ambitious projects of this scale that Masdar is able to drive the clean technology industry forward,” said Dr. Sultan Ahmed Al Jaber.

“Through the Solar Park, DEWA is making a significant contribution to the UAE’s vision for a green economy. The collaboration between all parties to reach this milestone has been exceptional, and we look forward to bringing Masdar’s expertise and experience from the past 10 years to bear, in order to successfully deliver this project for the UAE,” added Al Ramahi.

 

2016-11-30 | Courtesy: DEWA | solarserver.com © Heindl Server GmbH

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