First Solar signs module supply deal for 200-MW project in Dubai

US solar major First Solar Inc (NASDAQ:FSLR) said on Tuesday it has struck a deal to supply photovoltaic (PV) modules for the 200-MW phase II of the Mohammed bin Rashid Al Maktoum project in Dubai.

In particular, First Solar will supply more than 2.36 million PV modules for the second phase of the project, after delivering 152,880 panels with a combined capacity of 13 MW for phase one.

Earlier in 2015, the Dubai Electricity and Water Authority (DEWA) chose a consortium comprising Saudi company ACWA Power International and Spanish engineering and construction firm TSK to develop, build, own and run the 200-MW solar park. The group won the tender for the project by offering a record low power price of USD 0.0584 (EUR 0.0518) per kWh.

"This project's impact on the global energy transition cannot be overstated. It has effectively driven down the cost of solar electricity, marking a new milestone in solar PV's evolution as a mainstream energy resource," said Ahmed S Nada, vice president and region executive for the Middle East at First Solar.

Upon completion, scheduled for early 2017, the 200-MW solar plant will be able to generate enough power for about 30,000 average homes in the UAE. It is part of a larger complex that could hit 3 GW of total capacity.

First Solar is also equipping the 52.5-MW Shams Ma'an solar PV plant, which is currently being built in Jordan and is expected to commence operations in the second half of 2016.

(USD 1.0 = EUR 0.888)

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