Dubai Electricity and Water Authority (DEWA) has appointed a consortium led by Ernst & Young (EY Consulting) to provide advisory services for implementing the 6th phase of the Mohammed bin Rashid Al Maktoum Solar Park.
The 900-megawatt (MW) Phase 6, which will use photovoltaic (PV) solar panels, will be based on the Independent Power Producer (IPP) model, and operationalized in stages between 2025 and 2027.
‘Advisory services provided by the consortium include reviewing existing UAE legislation and regulatory frameworks, IPP developer tender document preparation, financial model development, developer tender submission management and evaluation, development of supplemental agreements, commercial negotiation, and concluding a power purchase agreement (PPA) and financial closure with the developer,’ the DEWA press statement said.
The scope also includes preparing a project marketing plan & activities, local and international roadshows and workshops.
In September, Zawya Projects had reported that DEWA received four bids to provide advisory services for Phase 6.
Last month, Zawya Projects had reported that DEWA extended the deadline for receiving Expressions of Interest (EOI) from international developers to implement the Phase 6 to 1 November 2022.
Upon the completion of the 6th phase, the solar park’s production capacity will reach 3,760 megawatts.
The current PV panel-based production capacity of the solar park is 1,827 MW.
DEWA is implementing other projects at the solar park with a total of 1,033 MW using PV and Concentrated Solar Power (CSP) technologies.
SDC Code: 4638692158
(Writing by Senthil Palanisamy; Editing by Anoop Menon)