Dubai 900 Megawatt Solar PV Tender Attracts 64 Companies
A tender for the fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai has attracted huge interest, on expected lines.
A tender for the fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai has attracted huge interest, on expected lines.
Dubai Electricity and Water Authority (DEWA) and Saudi Arabia’s ACWA Power announced the financial closing of the 950 megawatt concentrated solar power project in Dubai.
Within days of Abu Dhabi issuing an Expression of Interest for 2 gigawatts of capacity for a new solar power park, Dubai has issued a tender for the fifth phase of its Mohammed Bin Rashid Al Maktoum Solar Park.
Saudi Arabia–based ACWA Power has added another major project to its solar power portfolio. The new project will be part of the iconic Mohammed Bin Rashid Al Maktoum Solar Park located in Dubai, United Arab Emirates (UAE).
We have seen solar power tariffs in competitive auctions crash to unprecedented levels across the world over the last few months. These have been mostly led by companies bidding for projects in the Middle East, with some also involved in projects in South America, particularly Chile. So what are the possible reasons that made the Middle East a leader in low-cost solar power?
By 2050, Dubai targets 44% energy from renewable energy sources, 38% from gas, 12% from ‘clean fuels’ and 6% from nuclear energy. The plan also aims to increase energy efficiency by 40% by 2050.
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 … [continued]