MD & CEO welcomes Chairman of The Chinese Silk Road Fund

The meeting discussed enhancing collaboration between DEWA and the Chinese Silk Fund.

  
MD CEO welcomes Chairman of The Chinese Silk Road Fund

Dubai, UAE: HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority, received Xie Duo, Chairman of The Chinese Silk Road Fund, with Mohammad Abdullah Abunayyan, Chairman of ACWA Power; Waleed Salman, Executive Vice President of Business Development and Excellence at DEWA; and Abdul Hamid Al Muhaidib, Executive Managing Director of Noor Energy 1, also present. The meeting discussed enhancing collaboration between DEWA and the Chinese Silk Fund.

At the beginning of the meeting, Al Tayer welcomed Duo and said that the UAE is the second largest trade partner of China worldwide and the largest partner of China in the Arab World.

Al Tayer added that DEWA partners with big Chinese companies in DEWA’s projects including the Mohammed bin Rashid Al Maktoum Solar Park, the largest single-site solar park in the world. It has a planned capacity of 5,000 MW by 2030, with investments totaling AED 50 billion. When completed, it will save over 6.5 million tonnes of carbon emissions annually and provide thousands of jobs in clean energy and green economy.

The two sides discussed ways to strengthen cooperation between DEWA and Chinese companies, especially clean and renewable energy. DEWA highlighted work progress in the fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park. DEWA is implementing the project in cooperation with the Saudi Arabia’s ACWA Power, and The Silk Road Fund through Noor Energy-1. The fourth phase of the solar park is the largest single-site solar IPP project in the world that combines CSP and photovoltaic technologies, costing up to AED 15.78 billion. It will use 700MW of CSP; 600MW from a parabolic basin complex and 100MW from a solar tower; and 250MW from photovoltaic solar panels.

The project has made several world records. These include the world’s lowest Levelised Cost of Electricity (LCoE) of USD 7.3 cents per kilowatt-hour for CSP and the lowest (LCoE) for photovoltaic technology of 2.4 US cents per kilowatt-hour. The project will feature the tallest solar tower in the world at 260 metres. It will use 70,000 heliostats, and the largest thermal storage capacity of 15 hours; allowing for energy availability round the clock.

The 13MW first phase of the solar park became operational in 2013 using photovoltaic solar panels. The 200MW photovoltaic second phase of the solar park was commissioned in March 2017. DEWA is currently developing the third phase with a capacity of 800 MW, which is the first of its kind in the Middle East and North Africa to use an advanced solar tracking system. This will increase generation efficiency by 20-30% when compared to fixed installations. The third phase using photovoltaic solar panels will be completed this year.

The 900MW fifth phase of the solar park uses photovoltaic solar panels, based on IPP. This phase will become operational in stages starting from Q2 of 2021 onwards.

-Ends-

For more information, please contact:

Khuloud Al Ali / Shaikha Almheiri / Mohammad Almheiri                                                        
Dubai Electricity and Water Authority                                                                                  
+971 50 8450757 / +971 55 2288228 / +971 50 4511571                                                   
Media@dewa.gov.ae  / Shaikha.almheiri@dewa.gov.ae  / Mohammad.almheiri@dewa.gov.ae        

Susan Saidi / Mohammed Meshal
Hattlan Media
+971 50 8076338 / +971 50 7006846
susan@hattlan.com  / mohammed@hattlan.com 

© Press Release 2020

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.


More From Press Releases