Masdar, DEWA to build 1.8 GW solar project in UAE

This is part of the Mohammed bin Rashi Al Maktoum Solar Park project.

The Dubai Electricity and Water Authority PJSC (DEWA) signed a deal with Masdar to develop 1,800 megawatts of solar project as part of the sixth phase of the Mohammed bin Rashi Al Maktoum Solar Park.

In a statement, Masdar said the Solar Park’s sixth phase, which costs around $1.5b (AED5.51b), can provide clean energy to around 540,000 residences and avoid 2.36 million tonnes of carbon emissions annually when completed.

“The project will be fully completed in 2030 with a total investment of AED50 billion ($13.6b). Our goal is to provide 100% of Dubai’s energy from clean sources by 2050,” said Sheikh Mohammed bin Rashid Al Maktoum.

ALSO READ: Masdar completes $750m green bond issuance

Masdar was selected amongst 23 international bidders as it offers the lowest levelised cost of electricity amongst DEWA’s solar independent power producers at $1.6215 cents per kilowatt hour.

The solar park currently produces around 2,427 MW and will increase to 4,660 MW once the sixth phase is completed. DEWA is also building another project with a capacity of 433 MW.

Masdar, meanwhile, aims to achieve at least 100 gigawatts of renewable energy capacity by 2030.

$1 = AED3.67

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