Masdar, DEWA sign deal for 6th phase of Dubai's mega solar plant

Abu Dhabi Future Energy Company PJSC, better known as Masdar, today signed an agreement with the Dubai Electricity and Water Authority PJSC (DEWA) for the construction and operation of the 1.8-GW sixth phase of Dubai’s flagship solar project.

DEWA picked Masdar in August as the preferred bidder to build and operate the AED-5.51-billion (USD 1.5bn/EUR 1.4bn) facility as part of the Mohammed bin Rashid Al Maktoum Solar Park. As previously reported, the Saudi company offered a Levelised Cost of Energy (LCOE) of USD 16.21 per MWh (EUR 17.4), which is the lowest associated with any of DEWA’s solar IPP model projects to date.

The signing of the deal was witnessed by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

The sixth phase of the project will increase the solar power complex’s total production capacity to 4,660 MW. It is expected to become operational in stages starting in the final quarter of 2024.

The entire complex will have a capacity of 5,000 MW, to be installed at a total cost of AED 50 billion. At present, its total solar power production capacity amounts to 2,427 MW. The overall project is seen to be finalised by 2030.

“We're on track to achieve our ambitious goal - 100% clean energy for Dubai by 2050,” Sheikh Mohammed bin Rashid commented.

(AED 1.0 = USD 0.272/EUR 0.254)

(EUR 1.0 = USD 1.073)

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