DEWA discusses collaboration with the Chinese Silk Road fund
DEWA is implementing the fourth phase of the MBR Solar Park with Saudi’s ACWA Power and the Silk Road fund’s Noor Energy-1
The Dubai Electricity and Water Authority (DEWA) and the Chinese Silk Road fund discussed enhancing their collaboration in a meeting held between the managing director and chief executive officer of DEWA, HE Saeed Mohammed Al Tayer and the chairman of the Chinese Silk Road Fund, Xie Duo.
The chairman of ACWA Power Mohammad Abdullah Abunayyan; the executive vice president of Business Development and Excellence at DEWA, Waleed Salman; and the executive managing director of Noor Energy 1, Abdul Hamid Al Muhaidib, were also present at the meeting.
DEWA partners with Chinese companies on a number of projects including the Mohammed bin Rashid Al Maktoum Solar Park, the largest single-site solar park in the world, which has a planned capacity of 5,000MW by 2030, with investments totaling $13.6bn (AED50bn).
When completed, the solar park will save more than 6.5 million tonnes of carbon emissions annually and provide thousands of jobs in clean energy and green economy.
DEWA highlighted work progress in the fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park during the meeting.
DEWA is implementing the project in cooperation with the Saudi Arabia’s ACWA Power, and The Silk Road Fund through Noor Energy-1.
The fourth phase of the solar park is the largest single-site solar independent power project (IPP) in the world. It combines CSP and photovoltaic technologies, costing up to $4.3bn (AED15.78bn).
It will use 700MW of CSP; 600MW from a parabolic basin complex; 100MW from a solar tower; and 250MW from photovoltaic solar panels.
The project has already claimed several world records, including the world’s lowest Levelised Cost of Electricity (LCoE) of USD 7.3 cents per kilowatt-hour for CSP; the lowest (LCoE) for photovoltaic technology of 2.4 US cents per kilowatt-hour; the tallest solar tower in the world at 260m; and the largest thermal storage capacity of 15 hours, allowing for energy availability round the clock.
The 900MW fifth phase of the solar park, which uses photovoltaic solar panels based on IPP, will become operational in stages from Q2 2021.