Published on January 4th, 2016 | by Smiti1
Dubai Plans $7.3 Billion Renewable Energy Tenders
January 4th, 2016 by Smiti
Dubai Electricity and Water Authority has announced a comprehensive plan to significantly increase investment in renewable energy projects.
Announcing its annual budget, the Dubai Electricity and Water Authority (DEWA) stated that it will float tenders worth Dh 27 billion (US$7.35 billion) to set up renewable energy projects. The projects are expected to be commissioned through the independent power producers model.
The Authority did not give any details for the likely renewable energy projects that will be pursued. However, among the largest tenders would be for the next phase of the Mohammed bin Rashid Al Maktoum solar power park. The first large phase of the solar park, with 200 MW capacity, is being constructed by ACWA Power-led consortium. Another tender for 800 MW capacity has attracted interest from global project developers, and the winner of this phase is expected to be announced soon.
DEWA plans to increase the total capacity of the solar park to 3 GW by 2030, so a number of tenders are expected to be issued. The Authority is expected to develop other renewable energy and clean energy projects.
Dubai has set a target to increase the share of renewable energy in its total energy mix to 7% by 2020. The medium-term and long-term targets for renewable energy share are 25% by 2030 and 75% by 2050.