Dubai Electricty and Water Authority (DEWA) has awarded the contract to the 700MW AED14.2 billion fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park to a Saudi Arabian and Chinese consortium.
This is the largest single-site Concentrated Solar Power (CSP) project in the world, based on the Independent Power Producer (IPP) model. The contract is will be fulfilled by Saudi Arabia’s ACWA Power and China’s Shanghai Electric.
The consortium bid the lowest Levelised Cost of Electricity (LCOE) of USD 7.3 cents per kilowatt hour (kW/h). The project will have the world’s tallest solar tower, measuring 260 metres.
The power purchase agreement and the financial close are due to be finished shortly. The project will be commissioned in stages, starting from Q4 of 2020.
The Mohammed bin Rashid Al Maktoum Solar Park is the largest single-site solar park in the world, based on the IPP model. It will generate 1,000MW by 2020 and 5,000MW by 2030. The 13MW photovoltaic first phase became operational in 2013. The 200MW photovoltaic second phase of the solar park was launched in March 2017. The 800MW photovoltaic third phase will be operational by 2020, and the first stage of the 700MW CSP fourth phase will be commissioned in Q4 of 2020.