Masdar, a company leader in Abu Dhabi’s clean energy industry is the driving force behind Dubai’s third phase of Mohammed bin Rashid Al Maktoum’s mega-solar park, has break global records.
Declared by the Dubai Electricity and Water Authority on Monday that a consortium led by Masdar won the contract agreement for the 800 megawatt stage for the Mohammed bin Rashid Al Maktoum solar park. Masdar will collaborate with Spanish companies, Gransolar Group and Fotowatio Renewable Ventures (FRV) – an Abdul Latif Jameel organization.
The Saudi Arabian and Abu Dhabi consortia beat four competitors for the third stage at a record breaking offer of 2.99 US pennies for every kilowatt hour (kWh). This takes after the second stage, which totals to 200MW – which also became a then world record broken at 5.84 pennies for every kWh from Saudi Arabia’s Acwa Power and its Spanish associate TSK.
The solar park is set to be the biggest single-site solar based development on the planet with an arranged limit of 5,000 megawatts by the year 2030. This is sufficient to control 800,000 homes with a total financing of AED50bn.
“The company’s decision to engage in this kind of project is a demonstration of the organization’s long years of experience and strong reputation,” said Masdar chairman Sultan Al Jaber. In addition, he also stated that the declaration fortified Masdar’s unending commitment to the advancement of the renewable energy industry, both locally and globally.
Dewa CEO and managing director Mr. Saeed Al Tayer, said that the venture had pulled in “enormous interest”.
Tayer said that Dewa received a few offers from other foreign international solar energy companies, indicating the trust and enthusiasm from financial specialists in extensive activities received by the Dubai government. The emirate had ideal existing legislation and regulations that allowed private segment partnerships.
The utility has expanded the limit of the park twice from its first 1,000MW plan granted that the cost to produce sun based energy has consistently fallen. While there are different parts to estimating power, one major element is that the expense of sun powered PV boards has dropped by 75 percent in the five years to 2014 and further decreases are normal.
The International Renewable Energy Agency (Irena), headquartered in Dubai, announced a report a week ago that demonstrated the innovation costing, all things considered, between 5 to 10 cents for each kWh in Europe, China, India, South Africa and the US. The company said that with these expenses consistently dropping, solar energy could experience to 13 percent of worldwide power needs by the year 2030.
Irena learns from the latest report that cost diminished for wind and solar will carry on the upcoming years, with continued decreases of up to 59 percent possibility for sun powered PV in the following 10 years,” said Irena executive general Adnan Amin. “This thorough overview of the solar industry finds that these cost diminished, combined with other enabling components, can make a remarkable global development of solar energy. The renewable energy move is well in progress, with solar based playing an important part.”
Recently, Dewa announced another tender for consultancy firms for the Mohammed bin Rashid Al Maktoum solar park – this time hoping to convey concentrated solar power (CSP). The utility intends to see 1,000MW of the sun powered park to house CSP – which has capacity storage different to PV.
Dubai is hoping to have 7 percent of its total force yield from clean energy sources in the succeeding four years, trailed by 25 percent by 2030 and 75 percent by the year 2050.
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