ACWA Power Becomes First Utility To Adopt Blockchain Currency SolarCoin
Saudi Arabia-based ACWA Power has become the first large-scale utility in the world to adopt the blockchain currency SolarCoin.
Saudi Arabia-based ACWA Power has become the first large-scale utility in the world to adopt the blockchain currency SolarCoin.
In September, ACWA Power contracted with DEWA (Dubai Electricity and Water Authority) to build the world’s largest concentrated solar power (CSP) plant at 700 MW with 15 hours of storage, at 7.3 cents per kWh, one of a cascading series in 2017 of bombshell record-low CSP prices in 2017.
The Gulf emirate of Dubai announced on Saturday the contract for the mammoth Mohammed Bin Rashid Al Maktoum Solar Park, a 700 MW solar CSP extension awarded to a consortium made up of Chinese-based Shanghai Electric and Saudi Arabia’s ACWA Power.
Dubai will soon be home to the world’s largest concentrated solar power facility. The 700 megawatt facility will cost more than $4 billion to construct. The cost of energy from the plant is set at 7.3 cents per kilowatt-hour.
Saudi Arabian electric utility ACWA Power has been awarded three Egyptian solar PV projects under Round 2 of the country’s Feed-in Tariff program, amounting to a total of 165.5 MW worth of new solar capacity.
The Dubai Electricity and Water Authority recently announced that the second phase of Mohammed bin Rashid Al Maktoum Solar Park has been commissioned.
A new report published by the Mediterranean Forum of Institute of Economic Sciences claims that Morocco could have up to half a million jobs in the renewable energy sector by 2040.
Construction on the largest solar park on a single plot will begin later this month, the project developer and owner have announced.
With its global aggressive push in the renewable energy sector, Saudi Arabia-based company ACWA Power has launched a separate company to take control of its clean energy assets.
Saudi Arabia-based power project developer ACWA Power is set to enter the renewable energy sector in Turkey.