February 14 (Renewables Now) - The Emirates Water and Electricity Company (EWEC) has issued an expression of interest (EoI) for the development of a 2-GW solar photovoltaic (PV) project at Al Dhafra, near Abu Dhabi.
The utility, formerly known as Abu Dhabi Electricity and Water Authority, will await proposals for the independent power project by March 5.
According to the tender document, released on Wednesday, successful candidates will be in charge of financing, building, operating and maintaining the 2-GW solar complex and related infrastructure under a long-term power purchase agreement (PPA) with EWEC. Under the laws of the UAE, the developer, or development consortium, will own up to 40% of a special purpose vehicle (SPV) that will be set up for the project. The remaining equity will be held, directly or indirectly, by EWEC’s parent Abu Dhabi Power Corporation (ADPC) and other Abu Dhabi government entities.
When constructed, the PV park will eclipse the 1,177-MWp Sweihan solar park, currently being built in Abu Dhabi. The project is developed by a partnership between Japan’s Marubeni Corp (TYO:8002), China-based JinkoSolar Holding Co Ltd (NYSE:JKS) and Abu Dhabi Water and Electricity Authority (ADWEA). Electricity from the plant will be sold at just USD 0.0242 (EUR 0.0214) per kWh.
(USD 1.0 = EUR 0.887)