Mohammed bin Rashid inaugurates 5th phase of Solar Park

Mohammed bin Rashid inaugurates 5th phase of Solar Park

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has inaugurated the 900 megawatt (MW) fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park, the largest single-site solar park in the world with a planned capacity of 5,000 MW by 2030. The 2 billion UAE dirham ($545 million) project, based on the Independent Power Producer (IPP) model, was developed by a consortium comprising of ACWA Power and Gulf Investment Corporation. Shuaa Energy 3, the project company, is owned 60 percent by Dubai Electricity and Water Authority (DEWA) and 40 percent the ACWA-GIC consortium. DEWA had received a record low bid of $1.6953 cents per kilowatt hour (kWh) for Phase 5. The total capacity of the solar power projects commissioned at the solar park has reached 2,427MW from photovoltaic solar panels and Concentrated Solar Power (CSP). The completion of Phase 5 takes the share of clean energy in Dubai’s energy mix to 16.3 percent of total installed capacity of 14,917 MW. To read more, click on this link : Writing by Senthil Palanisamy; Editing by Anoop Menon) ( [email protected] )