EDF EN takes stake in Dubai's 800-MW phase III solar project

Phase I of the Mohammed bin Rashid Al Maktoum solar project. Source: http://www.dewa.gov.ae. All Rights Reserved.

March 22 (Renewables Now) - EDF Energies Nouvelles (EDF EN), the renewables arm of France’s EDF (EPA:EDF), has joined the 800-MW phase III of the Mohammed bin Rashid Al Maktoum solar project in Dubai.

The agreement for the French firm’s entry into the consortium has been signed today, EDF said, without disclosing details on its participation and investment.

Abu Dhabi’s renewable energy company Masdar, in consortium with Fotowatio Renewable Ventures (FRV) and Gransolar Group, in May 2016 won the right to build and operate the park under the independent power producer (IPP) model with a then record-low bid of USD 29.9 (EUR 27.7) per MWh. The National said today that EDF EN is taking over the FRV stake.

The 200-MW phase A of the project will be completed in April 2018, followed by a 300-MW phase B in April 2019, and a 300-MW phase C in April 2020, EDF said.

Last week, the Dubai Electricity and Water Authority (DEWA) put online the 200-MW phase II of the Mohammed bin Rashid Al Maktoum Solar Park. Phase I, of 13 MW, was built by US company First Solar Inc several years ago.

The solar power complex is planned to hit 5 GW in 2030, with the total investment estimated at AED 50 billion (USD 13.6bn/EUR 12.6bn).

(USD 1 = EUR 0.93)

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Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for seven years now. She's got a soft spot for emerging markets.

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