Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has inaugurated the 300 megawatt (MW) first stage of the 900MW fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park, state news agency WAM reported.
Implemented by Dubai Electricity and Water Authority (DEWA) using the Independent Power Producer (IPP) model, the solar park is the largest single-site solar park in the world with a planned total capacity of 5,000MW by 2030.
The Solar Park’s projects constitute one of the key pillars of the Dubai Clean Energy Strategy 2050, which aims to provide 75 percent of Dubai’s total power capacity from clean energy sources by 2050. The fifth phase investments amount to AED2.058 billion, according to DEWA.
In November 2019, DEWA announced the consortium led by ACWA Power and Gulf Investment Corporation as the Preferred Bidder to build and operate the fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park using photovoltaic (PV) solar panels based on the IPP model. DEWA achieved a world record by receiving the lowest bid of $1.6953 cents per kilowatt hour (Levelised Cost of Energy) for this phase. A total of 60 Requests for Qualifications (RFQ) were received from international developers.
To implement the project, DEWA established Shuaa Energy 3 in partnership with the consortium led by ACWA Power and Gulf Investment Corporation.
DEWA owns 60 percent of the company, and the consortium owns the remaining 40 percent. The project uses the latest Solar photovoltaic bifacial technologies, which allows solar radiation to reach the front and back of the panels, with single-axis tracking to increase generation.
The fifth phase will provide clean energy to over 270,000 residences in Dubai, including 90,000 residences by the commissioned first stage, and will reduce 1.18 million tonnes of carbon emissions annually. To be commissioned in stages until 2023, the fifth phase uses the latest solar photovoltaic bifacial technologies with Single Axis Tracking to increase energy production.
Mohammad Abunayyan, Chairman of ACWA Power, said: "ACWA Power, a renowned Saudi company, is at the forefront of global efforts in progressing the energy transformation. Stemming from this notion, and based on our long-term strategic partnership with DEWA, the launch of the first stage of the fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park has been completed in record time of less than twelve months. The milestone reached today stands testament to our commitment to fulfil our mission despite the challenges imposed by the pandemic, and reinforces our support of DEWA’s ambitious vision of strengthening the green ecosystem in Dubai and adopting innovative sustainable solutions. These solutions have already been demonstrated through our portfolio of projects that span 13 countries in three continents. We mark this occasion with great pride and would like to reiterate our commitment in supporting the development of pioneering sustainable development plans in Dubai."
Ibrahim Al Qadhi, CEO of Gulf Investment Corporation (GIC), said: "GIC is pleased to participate in the development of the Mohammed bin Rashid Al Maktoum Solar Park (Phase V) together with the Dubai Electricity and Water Authority and ACWA Power, and to achieve the commissioning of the first phase of this landmark project ahead of the target date despite the challenges caused by the COVID-19 outbreak."
"GIC is a leading investor in energy projects with over $11billion in investments in the sector and intends to continue to play a major role in utilities projects in the Arabian Gulf region," Al Qadhi added.
