Dubai passes 2020 renewable energy target
State utility Dubai Electricity & Water Authority (Dewa) has announced that the Mohammed bin Rashid (MBR) solar park is now producing 1,013MW of solar energy, accounting for 9 per cent of the emirate's total power generation
State utility Dubai Electricity & Water Authority (Dewa) has revealed that solar energy now accounts for 9 per cent of the emirate’s total power generation capacity, passing the 7 per cent target set for 2020 in the Dubai Clean Energy Strategy 2050.
Saeed Mohammed al-Tayer, MD & CEO of Dewa, announced on 31 May that photovotaic (PV) solar accounted for 1,013MW of the emirate’s total installed power generation capacity of 11,700MW.
Al-Tayer said that a further 1,850MW of PV and concentrated solar power (CSP) solar capacity was currently under development at the Mohammed bin-Rashid (MBR) solar park.
Dewa has set a target for the MBR park to have a total solar energy capacity of 5,000MW by 2030.
In April, Dewa signed the power purchase agreement (PPA) with Saudi Arabia’s Acwa Power for the 900MW fifth phase of the MBR park, which will represent a total investment of more than AED2bn ($545m).
The Acwa Power consortium, which also includes Kuwait’s Gulf Investment Corporation (GIC), was selected as the preferred bidder for the project in November last year having submitted a world record tariff of $cents1.6953 per kilowatt-hour (kWh).
Dewa established a special purpose vehicle (SPV), Shuaa Energy 3, to develop and operate and maintain the 900MW photovoltaic (PV) solar plant. Dewa will hold a 60 per cent stake in the company, with the Acwa Power consortium holding the remaining 40 per cent.
Energy & Utilities - Middle East and Africa Market Outlook Report 2024.
This must-have report for industry players offers a thorough understanding of the latest developments, challenges, and opportunities in the region, supported by data, analysis, and expert insights.
Latest News
E&U Podcast
Subscribe to our Market Talk podcast for the latest on the key issues and trends in the energy and utilities sector
