Tuesday, Jan 17, 2017

Abu Dhabi: An Asian consortium is soon set to be announced as the developer for Abu Dhabi’s upcoming solar photovoltaic (PV) plant in Sweihan, a senior official said in the capital on Tuesday.

“We are finalising all aspects of the deal with Marubeni-Jinko, including land leasing and shareholder agreements, and will make the announcement in mid-February. This consortium is set to develop solar power for Abu Dhabi at a record-low of 2.42 US cents per kilowatt-hour (kWh),” said Aisha Al Mansouri, an official at the generation directorate at the Abu Dhabi Water and Electricity Company (Adwec).

Adwec is a subsidiary of the emirate’s utility sector regulator, the Abu Dhabi Water and Electricity Authority, and works to ensure the security of utility supply in the emirate.

Although the Adwec’s RFP had specified a 350-megawatt solar PV plant, market innovation upped the capacity to 1,000 megawatts.

“More than four bids came back with a proposal to generate more than 1,000 megawatts, and the Marubeni-Jinko consortium had the lowest ever bid,” Al Mansoori said.

Marubeni Corporation is a large Japanese trading company with international operations, while Jinko Solar is a Chinese solar energy company.

The upcoming plant will span 7.8 square kilometres in Sweihan, an eastern town in Abu Dhabi emirate.

“We expect to reach a financial close by March 30, and attain full commercial operations by March 31, 2019,” the official added.

Abu Dhabi currently has a total installed capacity of 14,5000 megawatts, and energy demand in the emirate currently grows by about three per cent each year. The 2016 peak was calculated at 13,300 megawatts. Most of the energy, generated using fossil fuels, is used for cooling purposes.

Asked if the company was looking at other renewable energy projects, Al Mansouri said it would evaluate the feasibility and economics of solar power depending on demand factors.

By Samihah Zaman Staff Reporter

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