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UPDATE - Abu Dhabi confirms USD 24.2/MWh bid in solar tender

Abu Dhabi landscape. Author: jaavaaguru. License: Creative Commons, Attribution 2.0 Generic.

September 20 (SeeNews) - The Abu Dhabi Water and Electricity Authority (ADWEA) on Monday confirmed that the lowest bid in its 350-MW solar tender was of AED 88.8 (USD 24.2/EUR 21.6) per MWh.

Japanese trader Marubeni Corp (TYO:8002) and China’s JinkoSolar Holding Co Ltd (NYSE:JKS) is the pair that made the record low bid, The National said today. The newspaper also said, citing sources, that the group is proposing to build a solar power complex of 1,170 MW in Abu Dhabi and sell the electricity at just USD 23/MWh.

ADWEA has received a total of six bids, the highest of which was of AED 133.49/MWh. The winner is yet to be announced, after all proposal are evaluated by authorities.

The following table shows the bidders as mentioned by The National.

Bidder Bid per MWh (in USD)
Masdar, EDF, PAL Technology 25.4
Tenaga, Phelan Energy 25.9
RWE, Belectric 29.1
JGC, First Solar, Sojitz 30.8
KEPCO, Hanwha Q Cells, GSE 36.3

A bid of USD 29.1 per MWh in Chile’s power supply auction last month was considered the lowest for solar power globally up until now.

(USD 1.0 = EUR 0.895)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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