Weekly renewables M&A round-up (Jun 27-Jul 1)
Jul 01, 2022 17:05 CESTJune 7 (Renewables Now) - Dubai Electricity and Water Authority (DEWA) is making progress with the construction of the 250-MW Hatta pumped-storage hydroelectric power project in the UAE with 44% of the station already complete.
The station, considered the first of its kind in the Gulf Cooperation Council (GCC), is located near the community of Hatta in the Hajar Mountains, about 140 km southeast of the city of Dubai. The plant will generate electricity by making use of the water stored in the Hatta Dam and an upper reservoir that is being built in the mountain. The complex will also have a storage capacity of 1,500 MWh and a life span of 80 years.
DEWA's chief executive Saeed Mohammed Al Tayer visited the pumped-storage hydroelectric power station to review its progress, the utility said on Monday.
A group led by Austrian builder Strabag SE (VIE:STR) was contracted in 2019 to design, build and commission the facility.
The investments in the project are estimated at up to AED 1.421 billion (USD 386.6m/EUR 362.8m).
(AED 1.0 = USD 0.272/EUR 0.255)
Weekly renewables M&A round-up (Jun 27-Jul 1)
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