MIDDLE EAST AFRICA
MIDDLE EAST AFRICA
DEWA signs Power Purchase Agreement with Masdar for third phase of the Mohammed bin Rashid Al Maktoum Solar Park
Dubai Electricity and Water Authority( DEWA) has signed a Power Purchase Agreement( PPA) with Abu Dubai Future Energy Company( Masdar), for the 800MW third phase of the Mohammed bin Rashid Al Maktoum Solar Park.
T he agreement was signed by HE Saeed Mohammed Al Tayer, MD & CEO of DEWA, and HE Dr Sultan Ahmed Al Jaber, UAE Minister of State and Chairman of Masdar, with HE Mohamed Jameel Al Ramahi, CEO of Masdar also present.
The signing ceremony was attended by DEWA staff including Waleed Salman, Executive Vice President of Strategy and Business Development, Nasser Lootah, Executive Vice President of Generation, Hussain Lootah, Executive Vice President of Transmission Power, Khawla Al Mehairi, Vice President of Marketing and Corporate Communications and Jamal Shaheen Al Hammadi, Vice President of Special Projects.
Earlier this year, DEWA announced the Masdar-led consortium as selected bidder for the third phase of the solar park. The consortium bid the lowest cost of electricity.
Saeed Mohammed Al Tayer, MD & CEO of DEWA
“ We are pleased to sign the Power Purchase Agreement with Abu Dubai Future Energy Company to produce 800MW based on the Independent Power Producer model for the third phase of the Mohammed bin Rashid Al Maktoum Solar Park, which is the largest single-site solar park in the world, with a planned capacity of 5,000MW by 2030. The agreement with Masdar supports the directives of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, and his brother His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to support the growth of the promising clean energy sector, and our efforts to achieve the Dubai Clean Energy Strategy 2050, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum to diversify the energy mix so clean energy will generate 7 % of Dubai’ s total power output by 2020, 25 % by 2030 and 75 % by 2050. The directives of His Highness are the roadmap that guides our ambitious initiatives and development projects. The agreement also supports the Dubai Plan 2021 to promote sustainability and happiness in Dubai, and achieve the aspirations of its citizens and residents, and DEWA’ s vision to become a sustainable innovative world-class utility,”
“ Masdar is proud to partner with DEWA on this important milestone in the development of the UAE’ s solar energy capacity. This agreement demonstrates the competitiveness of solar as a commerciallyviable clean energy source for electricity generation. It is through ambitious projects of this scale that Masdar is able to drive the clean technology industry forward.”
- HE Dr Sultan Ahmed Al Jaber
“ Today’ s signing continues the strong momentum created at the outset of the project thanks to DEWA’ s efficient tender process. The Mohammed bin Rashid Al Maktoum Solar Park is a major undertaking which will become an international reference point for the renewable energy industry. Through the Solar Park, DEWA is making a significant contribution to the UAE’ s vision for a green economy. The collaboration between all parties to reach this milestone has been exceptional, and we look forward to bringing Masdar’ s expertise and experience from the past 10 years to bear, in order to successfully deliver this project for the UAE.”
Mohamed Jameel Al Ramahi,
CEO of Masdar
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EQ December 2016 www. EQMagPro. com