Masdar and Acwa Power submit bids to develop sixth phase of Dubai’s Mohammed bin Rashid Al Maktoum Solar Park
The bidding is on for sixth phase of Al Maktoum solar park: UAE’s Masdar and Saudi Arabia’s Acwa Power have submitted bids to develop the 1.8 GW sixth phase of Dubai’s mega scale Mohammed bin Rashid Al Maktoum Solar Park, according to a statement (pdf) released on Thursday. The Dubai Electricity and Water Authority (Dewa) will announce its selection this quarter, with the phase scheduled to become operational in stages between 4Q 2024 and 2026. No financial details on the cost of building the sixth phase were disclosed.
Masdar has submitted the lowest bid for selling solar energy: Masdar has broken records by submitting the lowest bid to sell the energy generated by the sixth phase, coming in at USD 0.0162 per kWh, Dewa CEO Saeed Mohammed Al Tayer said in the statement. Acwa Power’s bid was not disclosed.
This would be Masdar’s second time securing a bid: A Masdar-led consortium developed the 800 MW third phase of the solar park in partnership with France's EDF, selling at a price of USD 0.0299 per kWh, the lowest price secured by Dewa at the time, according to their website.
Acwa Power built three phases already: The 200 MW second phase was developed by Acwa power in partnership with Spain’s TSK, selling the energy generated at a USD 0.056 per kWh, according to Dewa’s website.The 950 MW fourth phase combined both CSP and PV technologies, with the former selling at USD 0.024 per kWh and the latter at USD 0.073 per kWh. The 900 MW fifth phase was developed by a consortium led by Saudi Arabia’s Acwa Power, in partnership with the Gulf Investment Corporation at a cost of USD 562 mn. Dewa is buying the solar energy generated at a price of USD 0.017 per kWh.
Background: The solar park is the world’s largest single-site solar park using the IPP model with a planned production capacity of 5 GW by 2030. Currently, 2.3 GW of the intended capacity is complete and operational with a further 533 MW still under construction, according to the statement. The total project cost is estimated at AED 50 bn (USD 13.6 bn), according to Dewa’s website.