Published on December 5th, 2016 | by Saurabh0
PPA Signed For 800 Megawatt Dubai Solar Power Project At 2.99¢/kWh
December 5th, 2016 by Saurabh
Originally published on CleanTechies.
The iconic third phase of the Mohammed bin Rashid Al Maktoum Solar Park moved another step closer to being a reality after a power purchase agreement was signed for the project.
Dubai Electricity and Water Authority (DEWA) recently signed a power purchase agreement for the 800 megawatt (MW) project with Abu Dhabi-based Masdar Group.
In June, a Masdar Group–led consortium was confirmed as the winner of the 800 MW solar power tender that was floated by the Dubai Electricity and Water Authority (DEWA) last year. The consortium includes Fotowatio Renewable Ventures and Gransolar Group.
The 800 MW phase III of the Mohammed bin Rashid Al Maktoum Solar Park will be commissioned by 2020 and will add to the existing 13 MW and the under-development 200 MW of capacity. The phase III tender set a record for lowest-ever solar PV tariff globally at that time. The Masdar-led consortium beat the phase II winning bid of 5.84¢/kWh with a bid of 2.99¢/kWh.
A fourth phase of the solar power park was announced by DEWA recently, which will have an installed capacity of 1 GW.
Initially, the Authority received as many as 95 expressions of interest. Many prospective bidders are believed to have formed joint ventures for the subsequent rounds of bidding, with around 20 left in the fray at the end of last year. These included biggies like SunEdison, ACWA Power, JinkoSolar–RWE, REC Solar, and Engie.
Reprinted with permission.