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DEWA and Masdar reach financial close for a 1.8 GW solar park in the UAE

The Dubai Electricity and Water Authority (DEWA) and Masdar have announced the financial closing of the 1.8 GW sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park, located in the emirate of Dubai, in the United Arab Emirates (UAE), with costs up to AED5.5bn (US$1.5bn). In 2023, Masdar was selected as the preferred bidder to build and operate the sixth phase of the Independent Power Producer (IPP) project, and in January 2024, the Indian engineering company Larsen & Toubro Construction was awarded an Engineering, Procurement and Construction (EPC) contract to build the sixth phase of the solar project. This 20 km2 phase 6 will provide electricity to approximately 540,000 households and will reduce emissions by around 2.4 MtCO2/year. 

The total planned capacity of the AED50bn (US$13.6bn) Al Maktoum project will amount to 5 GW, to be commissioned by 2030. The 950 MW fourth phase of the project was inaugurated in December 2023 while the 900 MW fifth phase was commissioned in June 2023. 

The UAE’s solar capacity increased from 0.6 GW in 2018 to just over 3 GW in 2022, representing about 7% of the country’s total installed capacity and covering around 4% of power generation in 2022.

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