A consortium of Saudi Arabia’s ACWA Power and China’s Shanghai Electric has won a contract from the Dubai Electricity and Water Authority (DEWA) to develop the 700MW fourth phase of the Mohammed bin Rashid Al Maktoum solar plant.
The concentrated solar project will be commissioned in stages with the first scheduled for the fourth quarter of 2020.
DEWA said the consortium won the deal with a bid of $0.073 cents per kilowatt hour.
The power purchase agreement and the financial close are due to be “finished shortly”, it added.
The Mohammed bin Rashid Al Maktoum solar development is scheduled to deliver 5GW by 2030.
The first 13MW photovoltaic phase has been operational since 2013, with the second 200MW PV stage coming online in March this year.
A further 800MW PV phase is set to be operational in 2020.
Image: Pixabay
Saudi, China team win big in Dubai
ACWA Power and Shanghai Electric to build 700MW concentrated solar plant
By EBS