Rock-bottom solar prices trigger shift in UAE’s energy strategy

  • Date: 20-Oct-2020
  • Source: Gulf Business
  • Sector:Oil & Gas
  • Country:UAE
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Rock-bottom solar prices trigger shift in UAE’s energy strategy

The United Arab Emirates may use more solar energy for its power grid and to produce hydrogen as prices fall, a government official said.

Two local companies have offered to supply solar power from an Abu Dhabi project at a record-low price, according to Sharif Al Olama, under-secretary at the UAE's Ministry of Energy & Infrastructure.

Abu Dhabi National Energy Co., also known as Taqa, and Masdar Abu Dhabi Future Energy Co. have said they can sell power at $1.35 per kilowatt per hour from a new 2-gigawatt photovoltaic plant in the emirate.

They are partnering with Electricite de France SA and China's Jinko Power Technology Co.

The UAE is "revising and refreshing our energy strategy and roadmap,“ Al Olama said during a conference on Monday. "These kinds of prices are very competitive.“

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