Dubai’s DEWA solar project at lowest record bid

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Dubai's DEWA solar project at lowest record bid

Dubai’s DEWA solar project at lowest record bid

Five offers worth a sum of 800 MW of sun powered PV limit have been submitted in the third stage project tender at the Dubai Electricity and Water Authority solar park; lowest bid received – 2.99 pennies for each kilowatt-hour got.

The Dubai Electricity and Water Authority (DEWA) has verified that it has gotten a world record-low offer of 2.99$c/kWh for the 800 MW third period of its 5 GW Mohammed bin Rashid al-Maktoum solar project.

A combined five offers were gotten on May 1 for the third period of the DEWA venture, yet it was the offered by a consortium spearheaded by Saudi Arabia’s Abdul Latif Jameel, Spain’s Fotowatio Renewable Ventures (FRV), and UAE’s Masdar that got the features.

The consortium’s 2.99$c/kWh offer is 18% lower than the 3.65$c/kWh offer presented by JinkoSolar of China, and definitely undercut the 3.95$c/kWh rate put together by an Acwa Power-First Solar consortium.

The two different offers were for 4.382$c/kWh – put together by U.K./French firm Engie and Japan’s Marubeni – and 4.482$c/kWh, put together by a consortium consist of France’s EDF and Qatar’s Nebras.

Each of the five offers came in underneath the triumphant offer in stage two, set at a then-world-record 5.85$c/kWh set by Saudi Arabia’s Acwa Power and its affiliate TSK of Spain. Offers for the third stage were submitted in September a year ago however by the weekend just five stayed in the running for careful consideration.

DEWA will now assess the offers before honoring the construction contracts within this month. Phase A is 200 MW that will be ordered by April 2018; Phase B will have a limit of 300 MW to be authorized by April 2019, and Phase C will likewise have a limit of 300 MW to be appointed by April 2020.

Dubai has set an objective of 7% renewable energy infiltration by 2020, and as of now has 200 MW of sun powered based PV under development in the Emirate.

Originally, the DEWA solar project aims to target 1 GW, however the government is confident the park can reach 5 GW in size by 2030.

In any case, as ever with record-low solar powered offers, some inside the business will express their worries that such levies may very much be unlikely, offering almost no financial benefit for the triumphant bidders, for this situation the Saudi-led consortium.

Mohamed Dekkak

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