TSK – CleanTechies

ACWA Power Commissions 200 Megawatts Solar Project In Dubai

written by saurabh

The Dubai Electricity and Water Authority recently announced that the second phase of Mohammed bin Rashid Al Maktoum Solar Park has been commissioned.

The 200 megawatts project of the Mohammed bin Rashid Al Maktoum Solar Park takes the total capacity of the park to 213 megawatts. The project was allotted to a consortium of ACWA Power and TSK at then-lowest tariff of 5.98¢/kWh.

The project was officially launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai. The project consists of 2.3 million solar panels supplied by First Solar. The project is spread over 4.5 square kilometres and will generate enough electricity to power 50,000 homes and offset 214,000 tonnes of carbon dioxide emissions every year.

ACWA Power secured debt financing loan worth $344 million for the project. The 27-year loan will be provided by Abu Dhabi’s First Gulf Bank and 2 Saudi banks — the National Commercial Bank and the Samba Financial Group. Paddy Padmanathan, Chief Executive Officer, ACWA Power had announced at Abu Dhabi Sustainability Week 2015 that the company would secure debt financing at a low interest rate of just 4%.

The solar power park will have an eventual capacity of 5 gigawatts. The initial planned capacity was 1 gigawatt which was subsequently increased to 3 gigawatts, and now 5 gigawatts. Bids of the first 1 gigawatt of capacity have already been awarded.

Under the recently announced Dubai Clean Energy Strategy 2050 plan, Dubai targets 44% energy from renewable energy sources, 38% from gas, 12% from ‘clean fuels’ and 6% from nuclear energy. Almost $17 billion will be invested to expand the Mohammad Bin Rashid Al Maktoum Solar Park.

Phase III of the solar power park, with capacity of 800 megawatts, was awarded to a consortium of Masdar Group, Fotowatio Renewable Ventures and Gransolar Group. The project was awarded at 2.99¢/kWh. Power purchase agreement for this phase has been signed and construction is underway. The project will likely be commissioned by 2020.

DEWA has also issued a tender for 200 megawatts concentrated solar power capacity which will form phase IV of the solar power park. The project will be awarded in June this year and is expected to be operational by April 2021.

03/22/2017 0 comment

Renewable Energy

First Solar To Complete 200 MW Dubai Solar Power Project By 2017

written by saurabh

The second phase of the iconic Mohammed bin Rashid Al Maktoum solar power park will be complete next year, First Solar recently reported.

US-based solar modules manufacturer and developer First Solar announced that it will commission the 200 MW solar power capacity at the Dubai solar power park next year. The company is working under contract from Saudi Arabia-based ACWA Power which secured the right to develop the project through a competitive auction.

First Solar will reportedly provide 2.36 million modules that will be installed over an area of 450 hectares.

First Solar had also worked on the first phase of the solar power park which has an installed capacity of 13 MW. Auction for 100 MW second phase of the solar power park was won by a consortium of ACWA Power and TSK at record tariff bid of US¢5.84/kWh. The Dubai Electricity and Water Authority then offered another 100 MW capacity to the consortium.

The initial installed capacity target for Mohammed bin Rashid Al Maktoum Solar Park was set at 1 GW by 2019. However, last year, DEWA announced that it would boost the park’s capacity to 3 GW by 2030, with a total estimated investment of $3 billion.

The solar power park is central to DEWA’s target to source 7% of Dubai’s total power output from renewable energy sources by 2020, and 15% by 2030.

10/23/2016 0 comment