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

Follow the link for more news on

Masdar

Also Read

NSW OKs Liverpool Range Wind Farm expansion

SPNEC faces delays in project over right-of-way, grid connection issues

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!

I want to download the media kit

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.

11 hours ago

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.

11 hours ago

NSW OKs Liverpool Range Wind Farm expansion