ACWA Power Announces Financial Closure For 950 Megawatt Dubai Solar Project
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.
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.
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).
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.
In 2013, China witnessed yet another year of impressive wind energy capacity addition. While the total capacity added was off the peak levels seen a couple of years ago, the Asian giant still managed to add 45% of all the wind energy capacity added in 2013. According to the latest … [continued]