Record low offer for 2GW PV solar project in UAE
Emirates Water and Electricity Company (EWEC), a subsidiary of Abu Dhabi Power Corporation, has received a record low bid for 2 gigawatt (GW) solar photovoltaic project being developed in the Al Dhafra region of Abu Dhabi.
The lowest offer is 12.46 EUR/MWh (13.5 USD/MWh), which far exceeds the previous price established by Total and Marubeni when bidding for their 800 MW project in Qatar a price of 14.03 EUR/MWh (15.2 USD/MWh).
EWEC launched a tender to finance, construct, operate and maintain the solar park in July 2019. 48 companies had submitted their expressions of interest and 24 companies were prequalified to participate in the bidding process. Finally, five teams have submitted technical and financial offers for the project.
The five teams are:
- Acwa Power
- EDF - Jinko Solar
- International Power - Engie
- Marubeni - Total Solar
- Soft Bank - Eni
EWEC has not disclosed the name of the winning team, but online energy resource pvmagazine has announced that EDF and Jinko Solar submitted the lowest bid.
The offer received for the Al Dhafra plant is 44% lower than that generated for the Noor Abu Dhabi project, the emirate's first large photovoltaic plant.
"Ensuring such competitive rates on our energy projects is critical to supporting economic growth in all sectors in the UAE," said EWEC Chief Executive Othman Al Ali. "We hope to sign the power purchase agreement and deliver the project in the second quarter of 2022."
