Saudi developer ACWA Power has announced One Belt, One Road Chinese infrastructure partner Shanghai Electric will offer engineering, procurement and construction services on the next phase of the Mohammed bin Rashid Al Maktoum solar field in Dubai.
pv magazine’s Amjad Khashman has spoken to Chinese solar developer Jinko Power about negotiating the world record low price tariff agreed for electricity generated at the Al Dhafra solar project in Abu Dhabi.
Emirates Water and Electricity Co. awarded the 2 GW project to a consortium that includes Abu Dhabi National Energy Co., Masdar, French energy group EDF, and China’s JinkoPower.
SolarPower Europe has predicted the volume of new PV capacity added this year will be 4% less than last year’s figure because of the Covid-19 crisis. At the end of 2019, the world had topped 630 GW of solar. For 2020, around 112 GW of new PV capacity is expected, and in 2021, newly installed capacity could be 149.9 GW if governments support renewables in their coronavirus economic recovery plans.
An Ieefa report has suggested the cost of generating electricity from solar will be near zero in the world’s sunniest regions by 2030-40 – despite what the naysayers at the International Energy Agency might think.
The levelized cost of energy generated by large scale solar plants is around $0.068/kWh, compared to $0.378 ten years ago and the price fell 13.1% between 2018 and last year alone, according to figures released by the International Renewable Energy Agency.
The International Energy Agency has acknowledged dramatic falls in energy investment caused by the Covid-19 crisis but said renewables, including PV, offered an attractive proposition to investors as the dust settled, given their enticing economics and short turnaround times.
Dubai Electricity and Water Authority has published new regulations blocking ground-mounted commercial and industrial solar projects and capping rooftop installations at 2 MW.
Analysts at Bloomberg New Energy Finance say the lowest-cost projects financed in Australia, China, Chile and the UAE in the last six months hit a levelized cost of energy of just $23-29/MWh and the best solar and wind projects will produce electricity for less than $20/MWh by 2030.
The $570 million fifth phase of the project will sell power at $0.016953/kWh under a 25-year power purchase agreement. It is scheduled to go online in the second quarter of 2021.
The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.