Saudi power company ACWA Power today revealed it has signed a 25-year power purchase agreement with the Egyptian Electricity Transmission Company and said development was on track for generation to start before October next year.
The $156.4 million Kom Ombo photovoltaic solar power plant is being developed by Saudi energy giant ACWA Power.
The latest 800 MW of the 5 GW solar field to go live takes Dubai past its 2020 clean energy target of 7% by ensuring 9% of the emirate’s power comes from clean sources, according to the Dubai Water and Electricity Authority.
Sources connected to developers at the site confirm the figure has been agreed with the Egyptian Electricity Transmission Company but said it was still subject to change. The utility is seeking raised contributions from renewables companies to cover what it says were rises in building material costs.
The Saudi power company has named the lenders which will finance the latest stage of the gargantuan, 5 GW Mohammed bin Rashid Al Maktoum Solar Park, for an estimated $564 million.
International thinktank IEEFA says there are 50 viable green hydrogen projects under development with an estimated renewable energy capacity of 50 GW and the potential to produce 4 million tonnes of the fuel annually.
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.
The Chinese solar manufacturer has completed the first 10 MWp shipment of 24,700 of its 405 W bifacial solar panels for the 500 MW Ibri 2 PV array in Oman.
Plans to issue a request for proposals related to the contracts to develop twin 500-600 MW solar plants in the sultanate by the end of this month appear to have slipped but the head of awarding utility the Oman Power and Water Procurement Company has reportedly stated the process is in train.
The tariff is around $0.0021 lower than the $0.0156/kWh French oil giant Total and Japanese conglomerate Marubeni Corp offered in Qatar’s 800 MW tender in late January. French energy company EDF and Chinese solar company JinkoPower reportedly submitted the record bid in the UAE exercise.
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