https://arab.news/jme2b
RIYADH: To promote clean energy, Dubai Electricity and Water Authority has selected the state-owned renewable energy firm Masdar to build and manage the 1,800-megawatt sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park.
At an estimated cost of up to 5.51 billion dirhams ($1.5 billion), the project will be executed under the independent power producer model.
The announcement was made by Saeed Mohammed Al-Tayer, managing director and CEO of DEWA, the Emirates News Agency said on Sunday.
“DEWA is committed to completing the phases of the Mohammed bin Rashid Al Maktoum Solar Park according to the highest international standards using the latest solar power technologies to enhance the shift toward a green sustainable economy by increasing the share of clean and renewable energy. When completed, the solar park will reduce over 6.5 million tons of carbon emissions annually,” said Al-Tayer.
He said the sixth phase of the solar park using PV solar panels based on the IPP model will become operational in stages starting from the fourth quarter of 2024.
“The project documents, Power Purchase Agreement, and financial close agreements will be signed in due course. The total capacity of the solar energy projects commissioned at the solar park has reached 2,427MW,” added Al-Tayer.
The solar park is said to produce 5,000MW by 2030 with investments amounting to 50 billion dirhams, Al-Tayer noted.
Created to transform Dubai into a global hub for clean energy and a green economy, the project also supports the Dubai Clean Energy Strategy 2050, and Dubai Net Zero Carbon Emissions Strategy 2050 to provide 100 percent of the emirate’s total power capacity from clean energy sources by 2050, he added.
The percentage of renewable energy in Dubai's energy mix is around 16.3 percent of the total installed capacity. With the completion of the sixth phase and the other stages under development, it will increase to 24 percent in 2026.