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Financial close reached for Phase Six of the world’s largest single-site solar park
28/2/2024
News
Dubai Electricity and Water Authority (DEWA) and Abu Dhabi Future Energy Company (Masdar) have announced plans for the 1,800 MW sixth phase of development of the Mohammed bin Rashid Al Maktoum Solar Park in the United Arab Emirates (UAE).
Claimed to be the largest single-site solar park in the world, the project’s capacity will exceed 5,000 MW by 2030, with investments totalling some $13.7bn (AED50bn).
Masdar will build and operate this sixth phase of development of the solar park, covering some 20 km2, using solar photovoltaic bifacial technologies with single-axis tracking.
The partners report that this latest phase of development, which is expected to reduce around 2.36mn t/y of carbon emissions, has achieved the lowest levelised cost of energy (LCOE), at $1.6215 cents/kWh, at the solar park to date.
The project is expected to play a key role in meeting the UAE’s net zero by 2050 target and Dubai’s goal of 100% of its total power capacity to come from clean energy sources by 2050.
The current production capacity at the Mohammed bin Rashid Al Maktoum Solar Park is 2,627 MW, with the total capacity under construction being some 2033 MW. The 1,800 MW sixth phase of the solar park will see the project’s total production capacity increase to 4,660 MW by 2026.
Click here to read more about solar energy developments in the Middle East.
