The Dubai Electricity and Water Authority (DEWA) inked a Power Purchase Agreement and a Shareholder Agreement with ACWA Power for the phase two of the Mohammed bin Rashid Al Maktoum Solar Park.
The Managing Director and CEO of DEWA and the Chairman of ACWA Power agreed to aid the Dubai Integrated Energy Strategy 2030 proposed by the Dubai Supreme Council of Energy to broaden Dubai’s energy mix in which Solar energy will cover 7% of the total energy production by 2020 and 15% by 2030.
With reference to the Independent Power Produce model, the second phase of the project is scheduled to kick off by April 2017. ACWA Power will fund, build and operate the 200 MW photovoltaic plant at the Mohammed bin Rashid Al Maktoum Solar Park and will be contracted from 2017 for 25-year PPA.
The Mohammed bin Rashid Al Maktoum Solar Park spreads at 450 hectares and is constructed to lessen carbon emissions in Dubai by 400,000 tonnes. The photovoltaic plant is also considered as a global landmark for utility-scale solar power production with a significant level tariff of $5.84 cents/kWh.