Masdar Wins Dubai Solar Project: 1.8-GW Phase

• Masdar has been selected as the preferred bidder for the 6th phase of the Mohammed bin Rashid Al Maktoum solar complex in Dubai. The project, with an LCOE of EUR 0.015/kWh, will cost up to AED 5.51bn and will be commissioned in stages from 2024. The solar park is planned to reach 5 GW by the end of the decade.

Masdar has been selected as the preferred bidder for the 1.8-GW sixth phase of the Mohammed bin Rashid Al Maktoum solar complex in Dubai. The renewables major offered the lowest levelised cost of energy of USD 0.01621 (EUR 0.015) per kWh in a tender held by the Dubai Electricity And Water Authority. The project will be developed at a cost of up to AED 5.51 billion (USD 1.5bn/EUR 1.38bn) and commissioned in stages from the last quarter of 2024. Masdar is set to sign a power purchase agreement (PPA) and financial close agreements in due course. The solar park is planned to reach 4.66 GW when the sixth phase is operational and 5 GW when it is completed by the end of this decade.

What Is Masdar's Bid for Dubai's 6th Solar Park Phase?

• Masdar is a renewables major based in Abu Dhabi owned by Mubadala Investment Company.
• The company is part of the Emirates' plan to generate 7% of its total energy from renewable sources by the end of 2020, and 25% by 2050.
• Masdar is partnering with the Saudi-based ACWA Power for the project, and will serve as the majority shareholder with a 59% stake in the joint venture.
• The 1.8GW solar park will include 800MW of photovoltaic (PV) and 1GW of concentrated solar power (CSP) capacity.
• The project will be developed in three phases: 400MW PV and 500MW CSP in 2024; 300MW PV and 500MW CSP in 2025; and 100MW PV and no CSP in 2026.
• The facility is the largest solar project in the emirate, and is expected to help the Dubai Electricity And Water Authority generate up to 2.3 terawatt-hours (TWh) of clean energy annually once it is fully operational.
• The project is also expected to reduce more than 6 million tons of CO2 emissions over its 25-year lifetime.