ADWEA receives record low bids for solar project

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ADWEA receives record low bids for solar project

Abu Dhabi Water and Electricity Authority (ADWEA) has received a total of six bids for the 350 MW solar photovoltaic (PV) project in Sweihan.

The tender has attracted record low bids, of which de lowest was the one submitted by Japan-based Marubeni Corp and China's JinkoSolar Holding Co Ltd (US$24.2 per MWh).

The other companies and its bids are the following:

  • Masdar, EDF, PAL Technology (US$25.4 MWh)
  • Tenaga, Phelan Energy (US$25.9 MWh)
  • RWE, Belectric (US$29.1 MWh)
  • JGC, First Solar, Sojitz (US$30.8 MWh)
  • KEPCO, Hanwha Q Cells, GSE (US$36.3 MWh)

In mid July, we reported that Important bidders have left Abu Dhabi 350 MW Sweihan solar tender expecting the aggressive bidding to push the prices to record lows. Among others, Italian Enel, Spanish TSK and Saudi Arabia's Acwa Power, pulled out of the running for the project.

The project will comprise the development, financing, construction, operation, maintenance and ownership of the greenfield project, together with associated infrastructure. The facility would be structured as an independent power project with a power purchase agreement.

In late August we reported that Spanish developer Solarpack won the tender to develop a photo-voltaic (PV) solar project in Chile through a new world record-low PV price of US$29.10/MWh. The contract for the supply of 280 GWh annually was awarded in the Supply Tender 2015/01, latest Chile’s power supply auction. 

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