Dubai, UAE — In a step towards its clean energy ambitions, the Dubai Electricity and Water Authority (DEWA), has announced Abu Dhabi Future Energy Company (Masdar) as the Preferred Bidder for the development and operation of the 1,800MW sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park.
The project, which harnesses the power of photovoltaic (PV) solar panels, is set to be executed under the Independent Power Producer (IPP) model, with an estimated cost of AED 5.51 billion.
Designed to be the world’s largest single-site solar park, it is projected to boast a remarkable capacity of 5,000MW by 2030, with an investment infusion totaling AED 50 billion.
Upon completion, the solar park is expected to curtail carbon emissions by an impressive 6.5 million tons annually. The progressive 1,800MW sixth phase, employing PV solar panels and following the IPP model, is slated to commence operations in stages starting from the fourth quarter of 2024.
The essential project documents, including the Power Purchase Agreement (PPA) and financial close agreements, will be signed in due course.
The prevailing total production capacity of solar projects at the Mohammed bin Rashid Al Maktoum Solar Park stands at 2,427MW, a number that is steadily rising.
With an additional project boasting a 433 MW capacity currently under construction, the upcoming 1,800MW 6th phase is anticipated to catapult the cumulative production capacity to 4,660MW.
“Our support for the Dubai Clean Energy Strategy 2050 and Dubai Net Zero Carbon Emissions Strategy 2050 is unwavering, aiming to meet 100% of Dubai’s total power capacity from clean sources by 2050,” said Saeed Mohammed Al Tayer, MD and CEO DEWA.
DEWA’s determination to usher in a new era of sustainable energy is evidenced by its pioneering renewable projects, with the Mohammed bin Rashid Al Maktoum Solar Park taking center stage.
Al Tayer reinforced DEWA’s commitment to implementing the Mohammed bin Rashid Al Maktoum Solar Park phases to the highest international benchmarks, leveraging cutting-edge solar technology to expedite the transition towards a green and sustainable economy.
The resounding success of the solar park projects has captured the attention of global developers, showcasing international confidence in Dubai’s monumental initiatives underpinned by governmental support. DEWA’s strategic approach has lured substantial investments from the private sector and foreign financial institutions, bolstering cash flow into the economies of both Dubai and the UAE.
As Dubai continues to solidify its commitment to sustainable energy solutions, the share of clean energy in its energy mix is projected to surge from its current 16.3% to a substantial 24% by 2026, facilitated by the completion of the Sixth Phase and the ongoing development of the remaining phases within the expansive solar park.