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SOLAR PARK

Dewa signs power purchase deal with Masdar

DUBAI, November 28, 2016

Dubai Electricity and Water Authority (Dewa) has signed a Power Purchase Agreement (PPA) with Abu Dubai Future Energy Company (Masdar), for the 800MW third phase of the Mohammed bin Rashid Al Maktoum Solar Park.

The agreement was signed by Saeed Mohammed Al Tayer, MD & CEO of Dewa, and Dr Sultan Ahmed Al Jaber, UAE Minister of State and Chairman of Masdar, with Mohamed Jameel Al Ramahi, CEO of Masdar also present.

Earlier this year, Dewa announced the Masdar-led consortium as selected bidder for the third phase of the solar park. The consortium bid the lowest cost of electricity.

“We are pleased to sign the Power Purchase Agreement with Abu Dubai Future Energy Company to produce 800MW based on the Independent Power Producer model for the third phase of the Mohammed bin Rashid Al Maktoum Solar Park, which is the largest single-site solar park in the world, with a planned capacity of 5,000MW by 2030,” said Al Tayer.

The agreement with Masdar supports the goals to diversify the energy mix so clean energy will generate 7 per cent of Dubai’s total power output by 2020, 25 per cent by 2030 and 75 per cent by 2050.

“The agreement also supports the Dubai Plan 2021 to promote sustainability and happiness in Dubai, and achieve the aspirations of its citizens and residents, and Dewa’s vision to become a sustainable innovative world-class utility,” said Al Tayer.

Dr Al Jaber said: “Masdar is proud to partner with Dewa on this important milestone in the development of the UAE’s solar energy capacity. This agreement demonstrates the competitiveness of solar as a commercially-viable clean energy source for electricity generation. It is through ambitious projects of this scale that Masdar is able to drive the clean technology industry forward.”

“Today’s signing continues the strong momentum created at the outset of the project thanks to Dewa’s efficient tender process. The Mohammed bin Rashid Al Maktoum Solar Park is a major undertaking which will become an international reference point for the renewable energy industry,” said Mohamed Jameel Al Ramahi, CEO of Masdar.

“Through the Solar Park, Dewa is making a significant contribution to the UAE’s vision for a green economy. The collaboration between all parties to reach this milestone has been exceptional, and we look forward to bringing Masdar’s expertise and experience from the past 10 years to bear, in order to successfully deliver this project for the UAE,” added Al Ramahi. – TradeArabia News Service




Tags: Dewa | Masdar |

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