A Masdar-led consortium has won the contract for the 800 megawatt third phase of the Mohammed bin Rashid Al Maktoum Solar Park, Dubai Electricity and Water Authority (DEWA) announced on Monday.
Masdar will team up with Spanish firms, Fotowatio Renewable Ventures (FRV) – an Abdul Latif Jameel company, and Gransolar Group. The project will be based on an Independent Power Producer model (IPP).
“The selection of the Masdar-led consortium to develop this project is a testament to the company’s experience and track record over the last decade,” said Sultan Al Jaber, chairman of Masdar at a press conference on Monday.
The Mohammed bin Rashid Al maktoum Solar Park is the largest single-site solar park in the world with a planned capacity of 5,000MW by 2030 and a total investment of $13.6 billion (AED50bn).
The event was chaired by HE Saeed Mohammed Al Tayer, MD and CEO of DEWA as well as Mohamed Al Ramahi, CEO of Masdar, Dr. Sultan Al Jaber, Minister of State and Chairman of Masdar and HE Dr. Thani Ahmad Al-Zeyoudi, Minister of Climate Change and Environment.
DEWA has received a globally competitive price of $2.99 cents per kilowatt hour for the park’s third phase, which will use photovoltaic technology and will be operational by 2020. The third phase will be developed in three parts of which 200 Kilowatts are expected to be delivered each year to the completion date.
