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July 12, 2024

DEWA selects Masdar as preferred bidder for Solar PV Project

HE Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA), has announced that the Abu Dhabi Future Energy Company (Masdar) is the preferred bidder to build and operate the 1,800MW 6th phase of the Mohammed bin Rashid Al Maktoum Solar Park for using photovoltaic (PV) solar panels based on the Independent Power Producer (IPP) model.

DEWA has achieved, through this phase VI, the lowest Levelized Cost of Energy (LCOE) of 1.6215 cents per kilowatt hour (kWh) for any of DEWA’s Solar IPP Projects so far.

According to the statement, “DEWA has received 23 expressions of interest from international applicants to develop this project. Subsequently, the Request for Qualification (RFQ) was released to market on 15th November 2022.”

As per Mr. Tayer, When completed, the solar park will reduce over 6.5 million tons of carbon emissions annually. The 1,800MW 6th phase of the solar park using PV solar panels based on the IPP model will become operational in stages starting from the fourth quarter of 2024. The project documents, Power Purchase Agreement (PPA), and financial close agreements will be signed in due course.

“The total capacity of the solar energy projects commissioned at the solar park has reached 2,427MW. The share of clean energy in Dubai’s energy mix is about 16.3 percent of its total installed capacity. This percentage will reach 24 percent in 2026 with the completion of the Sixth Phase and the remaining phases under construction of the solar park,” added Mr. Al Tayer.