Connect with us

Hi, what are you looking for?

CleanTechnica

Clean Power

Lowest-Ever Solar Price Bid (2.42¢/kWh) Dropped In Abu Dhabi By JinkoSolar & Marubeni Score

Originally published on CleanTechies

The United Arab Emirates has seen yet another record-breaking solar power tariff bid. Abu Dhabi received the lowest-ever bid for a solar PV project at a shocking 2.42¢/kWh, taking back the title of cheapest solar power project from Chile.

The record-breaking bid has been submitted by a consortium of Chinese module manufacturer JinkoSolar and Japanese developer Marubeni.

lowest-solar-price-bids

Abu Dhabi Electricity and Water Authority received a total of 6 bids for the proposed 350 MW solar PV project planned to be built in the town of Swaihan, Abu Dhabi. Out of 6 bids, the lowest ever bid of 2.42¢/kWh has been submitted by the JinkoSolar–Marubeni consortium. The results of the tender are not out yet, as authorities will now evaluate the proposals for technical and economic viability.

The current bid of 2.42¢/kWh is the lowest so far globally, and by quite a bit — it is shockingly low. This bid is 20% lower than the previous record bid of 2.91¢/kWh submitted at an auction in Chile last month.

The second-lowest bid in the Abu Dhabi tender was reportedly not much higher, at 2.53¢/kWh, and was submitted by a local firm. These bids also beat the 2.99¢/kWh bid (shocking at the time … and still to some extent) submitted by a Masdar-led consortium for an 800 MW solar PV project in Dubai.

The Abu Dhabi solar park was initially planned for 350 MW. However, media reports state a possible increase in project size, as bidders were allowed to bid for larger capacities. The final capacity of the solar power park may well increase to 1 GW.

In recent months, large solar power parks around the globe have received bids less than 4.00¢/kWh — in India, Chile, the UAE, and elsewhere.

Many large developers — including Italy’s Enel, TSK, ACWA, Abdul Latif Jameel, and Engie reportedly pulled out of the Abu Dhabi tender due to expected high competition and concern over a drastic drop in prices.

 
 
 
Appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 

Don't want to miss a cleantech story? Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!
 

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Advertisement
 
Written By

An avid follower of latest developments in the Indian renewable energy sector.

Comments

You May Also Like

Clean Power

Statement by White House Press Secretary Karine Jean-Pierre on the U.S.-UAE Partnership to Accelerate Transition to Clean Energy (PACE) Today the United States joined with the...

Clean Power

Abu Dhabi startup Menhat says it has found a way to make a floating desalinization system that runs on sunlight with no emissions.

Clean Transport

Chevrolet has released another preview of the all-electric Chevrolet Blazer SS and has announced its official reveal date: Monday, July 18th. Stay tuned for...

Clean Power

By Andries Wantenaar of Rethink Energy Azerbaijan has announced a partnership with UAE-based developer Masdar for 1 gigawatt (GW) each of solar and onshore...

Copyright © 2022 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.