Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, bore witness to the signing of an agreement between the Dubai Electricity and Water Authority (DEWA) and Masdar to build and operate the 1,800 megawatt (MW) phase 6 of the Mohammed bin Rashid Al Maktoum Solar Park
The agreement is valued at Dhs5.51bn.
Sheikh Mohammed bin Rashid said: “This phase will power over half a million residences while reducing carbon emissions by 2.36 million tonnes annually. All phases of this landmark project are expected to be completed by 2030, with a total investment of Dhs50bn. We’re on track to achieve our ambitious goal – 100 per cent clean energy for Dubai by 2050.”
Dr Sultan Al Jaber, UAE Minister of Industry & Advanced Technology, chairman of Masdar and COP28 President-Designate, and Saeed Mohammed Al Tayer, MD and CEO DEWA signed the agreement in Abu Dhabi.
The UAE’s clean energy powerhouse was selected from 23 high-calibre international bidders.
Dr Al Jaber said: “Being awarded this landmark renewable energy project on the world’s largest single-site solar park is another significant milestone. It is a testament to our track record in pioneering clean energy projects as we continue to support the UAE’s Net Zero by 2050 strategic initiative.
“Ahead of our nation hosting COP28 later this year, it is vital that the world triples global renewable energy capacity by 2030 to keep the ambition of 1.5 degrees within reach. This landmark project demonstrates definitive action in our shared journey towards a cleaner, greener future.”
Al Tayer said: “We are committed to achieving a balance between development and environmental sustainability across social, economic and environmental plans. This underscores the UAE’s prominent status as one of the world’s largest investors in clean and renewable energy projects. It also affirms our support for the UAE’s hosting of the COP28 at Expo City Dubai, aligning our strategies and policies with the UN Sustainable Development Goals 2030 in sustainability, innovation and future-making.”
Sixth phase of solar park to yield major benefits
The current total production capacity of solar projects at the solar park is 2,427MW. DEWA is building another project with a total capacity of 433 MW.
The 1,800MW sixth phase of the solar park will increase total production capacity to 4,660MW.
When completed, this phase will provide clean energy to approximately 540,000 residences and reduce 2.36 million tonnes of carbon emissions annually. Through phase 6, DEWA has achieved the lowest levelised cost of energy (LCOE) of $1.6215 cents per kilowatt hour (kWh), the lowest of any of DEWA’s solar independent power producer (IPP) model projects to date.
When fully completed, the solar park will reduce over 6.5 million tonnes of carbon emissions annually. The 1,800MW sixth phase will become operational in stages starting from Q4 of 2024.