By Sam Bridge
DEWA chief says consortium led by ACWA Power and Gulf Investment Corporation achieves world record lowest bid of 1.6953 cents per kilowatt hour
A consortium led by ACWA Power and Gulf Investment Corporation has been named as the preferred bidder to build and operate the 900MW fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park.
Saeed Mohammed Al Tayer, managing director and CEO of Dubai Electricity and Water Authority (DEWA), on Thursday announced it has achieved a world record by receiving the lowest bid of 1.6953 cents per kilowatt hour (kW/h) for this phase.
DEWA released the tender for the fifth phase in February and received 60 requests for qualifications (RFQ).
“We are striving to achieve the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to transform Dubai into a global hub for clean energy and green economy," he said.
He added that the 900MW fifth phase of the solar park will become operational in stages starting from the second quarter of 2021.
The project documents, power purchase agreement and financial close agreements will be signed in due course, said Al Tayer.
The Mohammed bin Rashid Al Maktoum Solar Park is the largest single-site solar park in the world. Current total production capacity of solar projects at the solar park is 713MW.
DEWA is building three other projects with a total capacity of 1,250MW. The 900MW 5th phase of the solar park will increase the production capacity to 2,863MW.For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.