21.2 C
Tuesday, March 5, 2024

Masdar becomes lowest bidder for Phase 6 of MBR Solar Park


The Dubai Electricity and Water Authority (Dewa) has announced that Abu Dhabi Future Energy Company (Masdar) has become the lowest bidder for the sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park development, which it says is the largest The world’s largest solar park with a capacity of 1,800 MW at a single site.

Dewa said it issued an Expression of Interest (EOI) in September last year, followed by a Request for Qualification (RFQ) to 23 interested bidders in November, starting the Phase 6 procurement process.

Then, following a rigorous qualification process, the Dubai utility pre-qualified seven international bidders and issued a Request for Proposal (RFP) in December, leading to the selection of two bidders.

In addition to Masdar’s lowest bid of 1.62154 cents per kilowatt-hour (kWh), Dewa also received another bid from Acwa Power, a leading Saudi utility project developer.

Regarding the lowest bid, Saeed Mohammed Al Tayer, Managing Director and CEO, said: “Dewa broke its own record and achieved the lowest price (levelized cost ) . This supports wise leadership in prioritizing clean and renewable energy projects, which helps them reduce global costs.”

The MBR Solar Park currently has a total solar power plant capacity of 2,327 MW. In addition, the solar park has 533 MW of facilities under construction, he said.

He pointed out that the sixth phase of the solar park will be put into operation in phases starting from the fourth quarter of next year, and once fully completed, the production capacity of this phase will reach 4,660MW.

Al Tayer said that the MBR Solar Park, the largest single-site solar park in the world, has attracted significant interest from international developers and reaffirmed investor confidence in the major projects backed by the Dubai government.

“Dewa has attracted huge private sector and foreign banks’ investments in the UAE, thereby increasing cash flow to Dubai and the UAE economy,” he added.

Al Tayer noted that Dewa aims to achieve 100 percent of Dubai’s total electricity capacity from clean energy by 2050 through these projects.

When completed, the solar park will reduce carbon emissions by more than 6.5 million tons per year, he added.trade arab news agency


Source link

Related Articles

Sharjah’s Powerful $750 Million Sustainable Bond Issuance

Sharjah's Triumphant $750 Million Sustainable Bond Launch The Government of Sharjah has achieved a significant milestone with the successful issuance of a $750 million 12-year...

UAE Achieves a Pioneering Economic Milestone, Thriving Prosperity

UAE Economy Achieves Unprecedented Milestone The United Arab Emirates (UAE) has achieved a significant milestone in its economic diversification journey, marking what officials are calling...

Vitaliy Chiryassov: Aspiring to Streamline the Business Consulting Industry in the UAE 14567

Vitaliy Chiryassov: Aspiring to Streamline the Business Consulting Industry in the UAE In this interview, we're talking with Vitaliy Chiryassov, an entrepreneur who operates multiple...

International Jewellery Summit Sparkles in Dubai , Dazzling Unity

International Jewellery Summit in Dubai, The anticipation and excitement are palpable as the stage is set for the upcoming India Gem & Jewellery Show in...

Emirates Development Bank’s Impact on UAE Industrial GDP: A Catalyst for Economic Growth

Emirates Development Bank Empowers UAE's Industrial Growth with Boost to GDP Contribution Since the launch of its strategy in 2021, Emirates Development Bank (EDB) has...

Latest Articles