- ACWA Power has completed parts of the fifth phase of the Mohammed bin Rashid Al Maktoum solar project in Dubai.
- The complex will have a capacity of 5GW when completed.
Saudi Arabia’s ACWA Power has inaugurated a 300MW part of the 900MW fifth phase of the Mohammed bin Rashid Al Maktoum solar project in Dubai. The special purpose vehicle Shuaa Energy 3 PSC, developing the project, is majority-owned by the Dubai Electricity and Water Authority (DEWA) with ACWA Power and Gulf Investment Corporation (GIC) owning 40 per cent.
The fifth phase of the solar complex is estimated to cost $570 million. The contract was awarded to an ACWA Power-led consortium at a record low tariff of $0.016953 per kWh. When completed, the 900MW Shuaa Energy 3 PSC would meet the energy needs of 270,000 residential households while offsetting 1.18 million tonnes of carbon dioxide emissions yearly.
ACWA is also constructing the 950MW Noor Energy 1 fourth phase of the Mohammed bin Rashid Al Maktoum project. This phase will develop both concentrated solar power (CSP) and photovoltaic (PV) plants.
The Mohammed bin Rashid Al Maktoum solar complex is has been planned to generate 5GW.