Sungrow, Shanghai Electric in key Maktoum Solar Park deal

Sungrow, Shanghai Electric in key Maktoum Solar Park deal

Sungrow, a global leading inverter solution supplier for renewables, announced that it has partnered with Shanghai Electric to supply its latest 1500V 6.25 MW turnkey solution to the 900 MW fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai, thus illustrating its efforts in supporting Dubai Clean Energy Strategy 2050 and lowering the MENA region's carbon footprint. The 900 MW fifth phase of the park is expected to come online in Q2 2021 and will power 270,000 homes, offsetting 1.18 million tonne of carbon emissions annually. Based on the Independent Power Producer (IPP) model, Acwa Power in partnership with Gulf Investment Corporation (GIC) won the bid with a tariff of $1.6953 cents/kWh, establishing a new global benchmark for solar energy. The low off-taking price requires a minimized LCOE, which