UAE’s Dubai Electricity and Water Authority (DEWA) stated in a statement that, it has received bidders proposals for the 900MW 5th phase of the Mohammed bin Rashid Al Maktoum (MBR) Solar Park.
The bidder (undisclosed) has quoted a world record lowest price of $0.0169/kWh.
According to the reports, the participated bidders are ACWA Power and a Consortium of Masdar, EDF and Chinese Solar panel manufacturer Jinko Power.
The project will utilize the photovoltaic (PV), solar panels and will be constructed based on the Independent Power Producer(IPP) model.
DEWA will sign a power purchase agreement (PPA) for a period of 25-year power with successful bidder
According to the project specifications, the winning bidder will own 40% of the company operating the project, while DEWA will hold the remaining 60%
The project will be expected to operational in stages starting in Q2 of 2021.
“For the fifth time, DEWA has achieved a world record in getting the lowest price for PV solar power projects based on the IPP model.” said Saeed Mohammed Al Tayer, MD & CEO of DEWA.
The bids are being studied and the winning bid will be announced next month, stated Waleed Salman, Executive Vice President of Business Development & Excellence at DEWA.
The planned output of the Mohammed bin Rashid Al Maktoum Solar Park is 1,000MW by 2020 and 5,000MW by 2030. The total investments worth up to AED 50 billion.
Upon completion, the solar park will be expected to reduce over 6.5 million tonnes of carbon dioxide emissions annually.
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