Monday 4, April 2016

Dubai – MENA Herald: HE Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA) visited the second phase of the Mohammed bin Rashid Al Maktoum Solar Park, which holds a capacity of 200 megawatts (MW) and is one of the parks current projects, located in Seih Al-Dahal, Dubai. The progress made on the project supports the Dubai Clean Energy Strategy 2050, launched by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to provide 7% of Dubai’s energy from clean sources by 2020. This target will increase to 25% by 2030 and 75% by 2050.
Al Tayer was accompanied by Nasser Lootah, Executive Vice President of Generation at DEWA, Waleed Salman, Executive Vice President of Strategy & Business Development at DEWA, Hussain Lootah, Executive Vice President of Transmission Power at DEWA, Khawla Al Mehairi, Vice President of Marketing & Corporate Communications at DEWA, Moza Al Akraf, CIO of DEWA, Saeed Al Jallaf, Vice President of Transmission Projects and Permits, Jamal Shaheen Al Hammadi, Vice President of Special Projects at DEWA, and Khalifa Al Mehairi, Vice President of Distribution Maintenance at DEWA.
Al Tayer was briefed about the progress made at the second phase of the Mohammed bin Rashid Al Maktoum Solar Park by officials from Shuaa Energy 1. The second phase is based on the Independent Power Producer model and will be operational by April 2017.
DEWA has set a world record by obtaining the lowest price globally, at USD 5.6 cents per kilowatt (kW). Shuaa Energy 1 is a company established by DEWA to complete the project according to UAE legislation. DEWA is the majority shareholder at 51% with Saudi Arabia’s ACWA Power, and the Spanish industrial group TSK taking the remaining stake.
DEWA is working closely with Shuaa Energy 1 to ensure that the second phase of the park is operational by April 2017. The project is worth AED 1.2 billion in investments and occupies a total space of 4.5 square kilometres (km). Al Tayer emphasised the importance of meeting the deadline.
HH Sheikh Mohammed bin Rashid Al Maktoum inaugurated the second phase of the Solar Park, which is the largest single-site project of its kind in the world, and is based on the IPP model. It will generate 1,000MW by 2020, and 5,000MW by 2030, with total investments of AED 50 billion. It will help achieve a reduction of approximately 6.5 million tonnes of carbon emissions annually. Shuaa Energy 1 won three awards for the project: the Solar Project deal of the Year from the IGI Global journal, the MESIA Utility-Scale Solar Project of the Year from the Middle East Solar Industry Association, and the Private Finance Deal of the Year at the Bonds, Loans & Sukuk Middle East Awards 2015.