Masdar (Abu Dhabi Future Energy Company) submitted the lowest bid for the 1,800-megawatt (MW) Phase 6 of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai.
The Abu Dhabi-headquartered clean energy company submitted the lowest bid of USD1.62154 cents per kilowatt hour (kWh) for the solar photovoltaic (PV) power project, based on the Independent Power Producer (IPP) model.
ACWA Power, Saudi Arabia-based developer of power, water and hydrogen projects, submitted the second of the two bids received by Dubai Electricity and Water Authority (DEWA) for the project.
The press statement didn’t disclose the bid amount but said Phase 6 will become operational in stages starting from the fourth quarter of 2024.
“DEWA has broken its own record and achieved the lowest price (levelized cost) for PV solar power projects based on the IPP model in Mohammed bin Rashid Al Maktoum Solar Park,” said Saeed Mohammed Al Tayer, MD & CEO of DEWA.
The current total production capacity of solar plants at the Mohammed bin Rashid Al Maktoum Solar Park is 2,327 MW.
Additionally, there are 533 MW under construction.
DEWA commenced the procurement process of the sixth phase by issuing an Expression of Interest (EOI) on 14 September 2022, followed by Request for Qualification (RFQ) to 23 interested bidders on 15 November 2022. Following a rigorous qualification process, DEWA prequalified seven international bidders to whom the Request for Proposal (RFP) was issued on 30 December 2022.
DEWA has commenced the evaluation of the Bids received and aims to select the Preferred Bidder during the third quarter of 2023.
(Writing by Anoop Menon; Editing by P Deol)