The joint venture made up Fotowatio Renewable Ventures (FRV) and Masdar has won the tender process for the 800 MW third phase of the Mohammed bin Rashid Al Maktoum solar PV park in Dubai.
The team beat out competition from the following four bidding teams:
The tender regulations will give the Dubai Electricity and Water Authority (DEWA) 51% ownership and the wining team 49%, as per previous tender rounds.
The 800 MW project, based on the Independent Power Producer (IPP) model, is another landmark project that will make Dubai and the UAE a major producer of renewable and clean energy. The project will be located about 50 km south of the city of Dubai.
According to sources, UAE Minister of State and chairman of Masdar, Abu Dhabi Future Energy Company, Dr. Sultan Ahmed Al Jaber stated:
“The significant scale and competitive cost of this project are a clear signal that solar energy is a reliable and commercially viable technology,” said Al Jaber.
"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.”
In July 2015 we reported that DEWA announced the successful financial close for 200MW Phase II of the Mohammed bin Rashid Al Maktoum Solar Park. The project is located about 50 km south of the city of Dubai.
The Mohammed bin Rashid Al Maktoum Solar Park is one of the largest renewable energy projects in the region, with a planned production capacity of 5,000 MW by 2030.