DEWA seeks financial advisor for 800 MW Solar Photovoltaic Power Plant

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DEWA seeks financial advisor for 800 MW Solar Photovoltaic Power Plant

Dubai Electricity & Water Authority (DEWA) has launched a tender process to hire a financial advisor for the 800 MW third phase of the Mohammed bin Rashid Al Maktoum solar PV park.

The project is part of the Mohammed bin Rashid Al Maktoum solar PV park. The Park is expected to eventually cover 40 square kilometers and produce 1,000MW of clean energy for the national grid using both PV and solar thermal technology. The solar park is composed by a 13 MW Phase I, a 200 MW phase II and a 800 MW phase III.

The overall project aims to:

  • Support the energy diversification strategy.
  • Reduce carbon footprint.
  • Convert desert wastelands into a natural resource environment.
  • Promote sustainability and preserve earth’s natural resources by using renewable resources in electricity generation.
  • Contribute to improving the technology used for electricity generation by solar energy.
  • Develop UAE expertise in the field of solar and renewable energy and building.
  • Increase social levels of awareness about climate change and sustainable energy.
  • Promote research and development and involve local universities and colleges in the field of renewable energy.
  • Contribute positively towards Dubai’s vision, brand, growth, society and environment.

Last Month we reported that the consortium composed by ACWA Power and TSK had signed a power purchase agreement (PPA) for the 200 MW phase II. The PPA was signed between the consortium and the Dubai Electricity and Water Authority (DEWA). The contract will be for a period of 25 years. The total project investment is estimated at US$400 million.

See tender announcement:

http://ippjournal.com/wp-content/uploads/2015/04/2131500013.pdf

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