Dubai Electricity and Water Authority (DEWA) has received five bids for the third phase of the Mohammed bin Rashid Al Maktoum Solar Park.
The lowest bid was $2.99 cents per kilowatt hour which would be a world record low price for utility scale solar power.
DEWA will now review the technical and commercial aspects of the bids to before selecting a partner for the 800MW project which will be developed under the IPP model. Saudi Arabia’s ACWA Power is currently building the 200MW second phase of the solar park.
Dubai aims to provide 7% of its total power output from clean energy sources by 2020, 25% by 2030 and 75% by 2050.
The Mohammed bin Rashid Al Maktoum Solar Park has a planned capacity of 5,000 megawatts (MW) by 2030 with a total investment of $13.6bn.
“The wide participation in this vital sector reflects the trust and interest of international investors to invest in mega energy projects with Dubai Government. DEWA is leading by example in performance, efficiency, productivity, and excellence, in providing electricity and water services at the highest international levels of reliability and availability,” said Al Tayer.