Financial Close for 950-MW solar project in Dubai
Dubai Electricity and Water Authority (DEWA) and Saudi Arabia’s ACWA Power have announced the financial closure of the 950-MW Phase IV of Mohammed bin Rashid Al Maktoum Solar Park in Dubai.
The fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park includes a 600 MW parabolic basin complex, a 100 MW solar tower and 250 MW photovoltaic panels. The tower will be the largest in the world at 260 metres.
The project will also have the largest thermal energy storage capacity in the world of 15 hours, which allows for energy generation round the clock.
This project is a part of the development of the Mohammed Bin Rashid Al Maktoum Solar Park which is planned to be the largest single-site solar park in the world, with a planned capacity of 1,000 MW by 2020 and 5,000 MW by 2030.
The 13 MW first phase became operational on 22 October 2013; the 200 MW second phase was inaugurated on 20 March 2017. The 200 MW first stage of the third phase became operational on 1 May 2018.
DEWA CEO Saeed Mohammed al-Tayer commented:
“We are on our way to reaching 5,000MW by 2030 and achieving the objectives of the Dubai Clean Energy Strategy 2050 to produce 75 percent of Dubai's total power output from clean energy and make Dubai the city with the lowest carbon footprint in the world by 2050.”
Country news
-
-
March 15, 2019
DEWA launches RFQ for 900MW 5th phase of Mohammed bin Rashid Al Maktoum Solar Park
Dubai Electricity and Water Authority (DEWA) has issued a Request for Qualification (RFQ) for developers to build and operate the fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park, with a capacity of 900MW. The phase will use photovoltaic solar panels based on the Independent Power Project (IPP) model. It will be commissioned in stages starting from Q2 of 2021. The move supports the Dubai Clean Energy Strategy 2050 to provide 75% of Dubai’s total power output from clean energy.
Read more -
February 26, 2019
BlackRock and KKR invest US$4 billion in midstream assets in Abu Dhabi
Abu Dhabi National Oil Company (ADNOC) has announced that it has entered into a landmark multi-billion-dollar midstream pipeline infrastructure partnership with KKR and BlackRock, two American institutional investors.
Read more -
February 21, 2019
Aalborg's steam generators selected for 950 MW Phase IV of Mohammed bin Rashid Al Maktoum
Aalborg CSP signs 600 MWe order with Shanghai Electric for no-leaks steam generation systems to 950 MW Phase IV of Mohammed bin Rashid Al Maktoum Solar Park.
Read more -
February 12, 2019
Yellow Door Energy raises US$65 million to expand distributed solar in Middle East and Africa
Yellow Door Energy, a UAE-based solar developer, has announced that it has raised US$65 million in Series A financing to scale its investments in solar energy and energy efficiency solutions in the Middle East and Africa. This is one of the Middle East’s largest private placements in distributed solar.
Read more -
January 31, 2019
PPA signed for 1.8 GW (and first independent) combined cycle power plant in Sharjah
General Electric (GE) and Sumitomo Corporation have signed a 25-year Power Purchase Agreement (PPA) with the Sharjah Electricity and Water Authority (SEWA) to develop, build and operate a 1.8 GW combined cycle power plant located in Hamriyah.
Read more
