The Dubai Electricity and Water Authority (Dewa) has won the ‘2020 Middle East and Africa Renewables Deal of the Year. DEWA has won the award from Project Finance International (PFI) magazine for the photovoltaic fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park.
“The 900MW fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park based on the Independent Power Producer (IPP) model is a quality addition to our successful clean and renewable energy projects using the best global technologies. The fifth phase will be implemented by Shuaa Energy 3, established by Dewa and the consortium led by ACWA Power and Gulf Investment Corporation. Dewa received the lowest global bid of 1.6953 US cents per kilowatt hour for this project, which will use the latest solar photovoltaic bifacial technologies, with Single Axis Tracking to increase energy production. We promise to continue implementing clean and renewable energy projects, guided by the vision and directives of our wise leadership to enhance the UAE’s pioneering position in all sectors”, said Saeed Mohammed Al Tayer, MD & CEO of Dewa.
Mohammed bin Rashid Al Maktoum Solar Park is the largest single-site solar park in the world with a planned production capacity of 5,000 megawatts by 2030. The fifth phase will provide clean energy to 270,000 residences in Dubai. This will reduce 1.18 million tones of carbon emissions annually. The project is due for commissioning in stages starting third quarter of 2021.