Abu Dhabi Water & Electricity Company, a subsidiary of Abu Dhabi Water & Electricity Authority (ADWEA), has released the highly anticipated Request for Qualification (RFQ) document, to a select solar energy development companies, for the upcoming 350 MW solar photovoltaic (PV) park to be set up in the township of Sweihan, Abu Dhabi.
As per the Independent Power Producer (IPP) plan, ADWEC is to own 60 per cent of the PV project with the developer holding the remaining stake, the Middle East Solar Industry Association (MESIA) announced. This would be the first such solar project carried out by ADWEA.
A team of consultants formed by US firm Akin Gump Strauss Hauer & Feld (legal advisor), Alderbrook Finance (financial consultant) and Fichtner Consulting Engineering (technical advisor) is advising ADWEC for the project.
About 90 international and local firms have already expressed their interest in participating in the scheme.
The facility, which would produce enough electricity to power more than 50,000 homes, would be structured as an independent power project with a power purchase agreement. According to the tender announcement, ADWEA will “pay only for the net electrical energy supplied by the plant.”
Abu Dhabi is committed to producing 7 per cent of its total power from renewable energy sources by 2020, and the Sweihan project will be the first under the initiative.