Dubai Electricity and Water Authority (DEWA) awarded the 900MW photovoltaic fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park to the consortium led by ACWA Power in partnership with Gulf Investment Corporation (GIC). The winning tariff of USD 1.6953 cents/kWh establishes a new global benchmark for Solar Energy.
The 900 MW 5th phase with an investment of USD 570 Million, will bring the production capacity of the Mohammed bin Rashid Al Maktoum Solar Park to 2,863 MW. This fifth phase alone is expected to power 270,000 homes and offset carbon emissions amounting to 1.18 million Tons per year in Dubai. The project will use the latest bifacial photovoltaic solar panels, which captures sunlight on both sides of the panel and produces energy with an advanced solar tracking system to increase generation efficiency.
DEWA will retain a 60% stake in this latest solar project and be the sole off-taker of power under a 25-year PPA. The 5th phase of the solar park started to be commissioned in phases starting from Q3 2021 and ending at Q4 2023.
Bifacial PV technologies, that uses reflected solar rays on both sides; front and back, with a single axis tracking system to increase energy production
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