Masdar selected by DEWA to lead consortium on 800 MW solar PV project in Dubai

Share

Masdar, the Abu Dhabi-based developer of renewable energy, will lead a consortium to develop phase three of the Sheikh Mohammed Bin Rashid Al Maktoum solar project, owned by the Dubai Electricity & Water Authority (DEWA).

In May, DEWA revealed that the lowest bid received for this solar project was $0.0299/kWh, which is the lowest winning bid yet agreed globally for solar PV power. Dubai state news agency WAM would not confirm that the Masdar-led consortium would be developing the 800 MW of solar PV at this record low price, Masdar has since announced that it would be developing the project at this world record low tariff.

The consortium involves GranSolar, of Spain, and Fotowatio Renewable Ventures (FRV), which is a unit of the Saudi Arabian firm, Abdul Latif Jameel. On Sunday, HH Sheikh Mohammed Bin Rashid Al Maktoum – VP and Prime Minister of the UAE and Ruler of Dubai – signed a memorandum of Understanding (MoU) with Masdar chairman Sultan Ahmed Al Jaber and Dewa CEO Saeed Mohammed Al Tayer.

"What we are witnessing here is the UAE’s full steam commitment to meet the COP21 objectives," said Hadi Tahboub, the president of the Middle East Solar Industry Association (MESIA). "DEWA, under the full support of Sheikh Mohammed Bin Rashid, is breaking down barriers and walls in achieving lower costs, doable financial models, in developing utility-scale solar energy IPPs."

The Sheik Mohammed Bin Rashid solar park is expected to grow to 3 GW once all phases are completed by 2030. At just 2.99 U.S. cents/kWh, phase three is 15% cheaper than the world’s previous lowest benchmark for solar, set in Mexico in April, and marks another step towards diminishingly cheap PV projects at scale in emerging markets.

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Popular content

Rooftop PV installations could raise daytime temperatures in urban environments by up to 1.5 C

09 October 2024 New research from India shows that rooftop PV system may have "unintended" consequences on temperartures in urban environments. Rooftop arrays, for ex...

Share

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.