Photo from Masdar.

Dubai, Masdar reaches financial close for 1,800 MW solar project

This is the sixth phase of the largest single-site solar park globally.

The Dubai Electric and Water Authority (DEWA) and power firm Masdar have achieved a financial close for the sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park with a 1,800-megawatt capacity.

In a statement, Masdar said the 6th phase of the project costs around $1.5b (AED5.5b) and could generate power that could meet the needs of around 540,000 residences.

ALSO READ: Masdar amassed 1.4 GW of clean energy projects to the Uzbekistan national grid

The project’s phase, which covers an area of 20 square kilometres, will cut around 2.36 million tonnes of carbon emissions annually and achieve the lowest levelised cost of energy in the solar park at 1.6215 cents per kilowatt hour.

The entire solar park, which has a total investment of $13.6b (AED50b), is expected to reach over 5,000 megawatts by 2030.

$1 = AED3.67

 

Follow the link for more news on

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

India’s Rajasthan and Gujarat need policy reforms to fuel RE transition
Some steps they could take are implementing green tariffs and setting infrastructure funds.
Global clean energy tech market to hit $2t by 2035
This is fuelled by investments as countries aim to enhance energy security.The global clean energy technology market is projected to grow from $700b in 2023 to over $2t by 2035, nearing the scale of the crude oil market, according to the International Energy Agency (IEA).This growth is fuelled by significant investments in clean technology manufacturing as countries aim to enhance energy security, maintain economic competitiveness, and cut emissions. Investment is concentrated in regions with established positions in clean energy, particularly China, the European Union, the UK, and increasingly, India.Whilst the US, EU, and India have taken measures to support their clean energy sectors, China is expected to remain the world's manufacturing hub. By 2035, China's clean technology exports are forecasted to exceed $340b—comparable to projected oil export revenues from Saudi Arabia and the UAE.Southeast Asia, Latin America, and Africa contribute less than 5% of global cleantech production value, yet the IEA suggests that these areas still hold opportunities within the clean energy economy. Developing economies, for instance, could leverage competitive advantages to advance in the value chain beyond resource extraction.The IEA said Southeast Asia could become one of the most cost-effective regions for producing polysilicon and wafers for solar panels over the next decade.

Exclusives

Coal-dependent ASEAN told to scale up RE generation
A regional power grid could help governments in their renewable energy transition.
Indonesia told to tap communities in clean energy transition
Solar and wind power managed by villages could generate 96 million jobs over 25 years.
Indonesia to add 90 MW geothermal capacity
Three power plants in West and East Java and North Sumatra will start operating this year.