Dubai Ruler oversees DEWA-Masdar solar park MOU
A Masdar-led consortium comprising Spain's FRV and Gransolar Group will develop the Mohammed bin Rashid Al Maktoum Solar Park's 800MW third phase through an IPP contract
A memorandum of understanding (MOU) has been inked between Masdar and Dubai Electricity and Water Authority (DEWA) for the implementation of the Mohammed bin Rashid Al Maktoum Solar Park's 800MW third phase.
The third phase will be constructed based on the Independent Power Producer (IPP) contract model.
A Masdar-led consortium that includes Spanish companies Fotowatio Renewable Ventures (FRV) and Gransolar Group has won the project bid.
Vice President and Prime Minister of the UAE, and Ruler of Dubai, HH Sheikh Mohammed bin Rashid Al Maktoum, was present at the ceremony where the MOU was inked.
UAE Minister of State and chairman of Masdar and Abu Dhabi Future Energy Company, Dr. Sultan Ahmed Al Jaber, and DEWA managing director and CEO, Saeed Mohammed Al Tayer, inked the MOU.
The MOU was inked at the Presidential Palace in Abu Dhabi, and the ceremony was also attended by HH Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance; and HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs.
Remarking on the MOU, Dr Sultan Ahmed Al Jaber said: "Masdar is proud to have been chosen to develop the third phase of the largest single-site solar park in the world.
"The significant scale and competitive cost of this project are a clear signal that solar energy is a reliable and commercially viable technology.
"The selection of the Masdar-led consortium to develop the third phase of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai is a testament to the company’s experience and track record over the last decade.
"It also reinforces Abu Dhabi’s and Masdar’s growing contribution to the development of the renewable energy industry, both domestically and internationally," Dr Jaber added.
Saeed Mohammed Al Tayer said the solar park has "attracted huge interest from the business and energy sector" since it was launched.
"DEWA received several offers from international solar energy companies, reflecting the trust and interest from investors in large projects adopted by the Dubai Government," he continued.
"Encouraged by the favourable existing regulations and legislation in Dubai that permit private sector partnerships in power production projects, the 800MW third phase of the Mohammed bin Rashid Al Maktoum Solar Park is the first project of its kind in the region with this capacity."
Mohammaed bin Rashid Al Maktoum Solar Park will produce 5,000MW by 2030, with a total investment of $13.6bn (AED50bn), Al Tayer added, according to Dubai Media Office.