EDF and Dubai Electricity and Water Authority (DEWA) have signed several agreements related to the construction of two renewable energies projects totalling 1 GW in the United Arab Emirates.
The two companies signed a Memorandum of Understanding (MoU) with Abu Dhabi Future Energy Company (Masdar) to promote cooperation in developing and financing of the 800 MW Mohammed bin Rashid Al Maktoum Solar Park 3rd Phase, under framework of the Independent Power Producer model (IPP). The 800 MW phase of the solar project is being implemented by Shuaa Energy 2 (60% DEWA, 40% Masdar and EDF). The solar park's third phase has a Levelised Cost of Electricity (LCOE) of US$2.99c/kWh and will be operational in 2020 (first 200 MW in the first half of 2018, 300 MW in 2019 and the remaining 300 MW in the first half of 2020). The capacity of the Mohammed bin Rashid Al Maktoum Solar Park should reach 5 GW by 2030, for a total investment of AED 50bn (US$13.6bn).
Besides, EDF and DEWA also signed a Dhr58m consultancy contract (around US$15.7m) relating to the construction of a 250 MW pumped storage hydropower plant in the region of Hatta, close to the Oman border. EDF will carry out the design, hydro-geological and environmental studies and will take over the tender process for the selection of the contractors which will build the facility. Besides, EDF will monitor the site for two years. The pumped-storage power station will use of the water stored in the neighbouring Hatta Dam. The total facility costs are expected to reach Dhr1.92bn (US$522m).
These projects will help Dubai meet the targets of the Dubai Clean Energy Strategy 2050, i.e. to cover 7% of Dubai’s total power generation with clean energy by 2020 (25% by 2030 and 75% by 2050).
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