Abu Dhabi National Energy Company (TAQA) and Masdar alongside partners EDF and JinkoPower announced the successful financial closing of the 2 GW Al Dhafra Solar Photovoltaic (PV) Independent Power Producer (IPP) project in Abu Dhabi, United Arab Emirates (UAE).
The record-breaking project, located approximately 35 kilometers from Abu Dhabi city will supply power to the plant’s off-taker, Emirates Water and Electricity Company (EWEC). Once operational, the Al Dhafra Solar PV IPP will be the world’s largest single-site solar power plant, using approximately 3.5 million solar panels to generate enough electricity for approximately 160,000 homes across the UAE.
Financing for the project will come from seven international lenders, following the signing of the power purchase agreement in July. Earlier in the year, the competitive bidding for the project led to one of the most competitive tariffs for solar power, set at AED 4.97 fils/kWh (USD 1.35 cents/kWh).
TAQA and Masdar to own 60% of project, and EDF and JinkoPower to own 40%. The plant will deploy the latest in crystalline, bifacial solar technology, which will deliver electricity to the highest efficiency enabling the plant to provide more power by using both the front and backside of the panel.
ACWA Power has completed the signing of all financing agreements of the 900 MW solar PV project, Shuaa Energy 3 PSC, which is the fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai. Shuaa Energy 3 PSC is the special purpose vehicle incorporated for the project, with 60 percent ownership by the Dubai Electricity & Water Authority (DEWA) and the balance split between ACWA Power and Gulf Investment Corporation (GIC).
Read moreSungrow has partnered with Shanghai Electric to supply its latest 1500V 6.25 MW turnkey solution to the 900 MW fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai, illustrating its efforts in supporting Dubai Clean Energy Strategy 2050 and lowering the MENA region's carbon footprint.
Read moreA 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.
Read moreShanghai Electric has completed the Molten Salt Receiver (MSR) tower top receiver in Dubai's DEWA IV phase 700 MW Concentrating Solar Power and 250 MW Photovoltaic Hybrid Project. The company safely constructed the tower—the tallest such structure in the world—in a record 240 days, despite taking extensive precautions due to the Coronavirus pandemic. It is currently the world's largest photothermal and photovoltaic integrated power plant project, covering an area of 44 Sq.Km.
Read moreThe Abu Dhabi National Oil Company (ADNOC) has entered into an agreement with a consortium of investors comprising Global Infrastructure Partners (GIP), Brookfield Asset Management, Singapore’s sovereign wealth fund GIC, Ontario Teachers’ Pension Plan Board (Ontario Teachers’), NH Investment & Securities and Snam (the Consortium). The consortium will invest in select ADNOC gas pipeline assets valued at US$20.7 billion.
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