DEWA receives the lowest bid of USD 1.62154 cents per kWh for the 1,800MW solar park

DEWA receives the lowest bid of USD 1.62154 cents per kWh for the 1,800MW solar park

Dubai: Dubai Electricity and Water Authority PJSC (DEWA) today received two (2) bids from ACWA Power and Masdar. Masdar submitted the lowest bid of USD 1.62154 cents per kilowatt hour (kWh) for the 1,800MW 6th phase of the Mohammed bin Rashid Al Maktoum Solar Park using photovoltaic (PV) solar panels, based on the Independent Power Producer (IPP) model. This phase will become operational in stages starting from Q4 of 2024.

“DEWA has broken its own record and achieved the lowest price (levelized cost) for PV solar power projects based on the IPP model in Mohammed bin Rashid Al Maktoum Solar Park. This supports the wise leadership's priority toward clean and renewable energy projects, which has contributed to their global cost reduction. The projects at the Mohammed bin Rashid Al Maktoum Solar Park, the largest single-site solar park in the world, are of great interest to international developers and reaffirm investor confidence in the major projects supported by the Government of Dubai. DEWA has attracted huge investments to the UAE from the private sector and foreign banks, leading to increased cash flow to the economy of Dubai and the UAE,” said HE Saeed Mohammed Al Tayer, MD & CEO of DEWA.

“Achieving the