PPA awarded for world´s largest solar plant in UAE
A consortium comprising Abu Dhabi National Energy Company (TAQA), Masdar, EDF and JinkoPower has signed a 30-year Power Purchase Agreement with the Emirates Water and Electricity Company (EWEC), for the 2 GW Al Dhafra Solar Photovoltaic (PV) Independent Power Producer (IPP) project, which will be located approximately 35 kilometers from Abu Dhabi city.
The procurement process resulted in one of the most cost-competitive tariffs for solar PV energy, set at AED4.97 per kWh (US$1.35 per kWh) on a levelized cost of electricity (LCOE) basis. Upon full commercial operation, the plant is expected to reduce Abu Dhabi’s CO2 emissions by more than 2.4 million metric tonnes per year, equivalent to removing approximately 470,000 cars from the road.
Through this project, 60% will be owned by a consortium comprising TAQA and Masdar, while the remaining 40% will be owned by EDF and JinkoPower. The project’s financial closure is expected to occur in Q3 2020, enabling initial power generation in H1 2022 and full generation by H2 2022. Once fully operational, the plant will increase Abu Dhabi’s solar power capacity to approximately 3.2 GW.
Othman Al Ali, Chief Executive Officer of EWEC, said: “We are delighted to work with our partners and sign a PPA with a record-low tariff for solar power. We are working to secure long-term energy supply and reinforce solar power’s integral role in meeting current and future energy needs. Combined with key technological advances, the Al Dhafra Solar PV project will have a significant impact on diversifying the approach to our current electricity supply, and drive our strategic plan to further contribute towards the sector’s transformation in water and electricity production, as we develop a low-carbon grid in the UAE.”
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