EWEC (Emirates Water and Electricity Company) has issued a Request for Proposals (RFP) to qualified developers and consortiums that have expressed interest in developing the 1,500 MW Khazna solar PV project, located in the Al Khazna area of Abu Dhabi (United Arab Emirates). The RFP is being issued to 19 bidders who passed the qualification process following the Expression of Interest (EOI) stage that took place in September 2023.
The project will involve the development, financing, construction, operation, maintenance, and ownership of the plant and associated infrastructure. The successful developer or developer consortium will own up to 40% of the entity, while the remaining equity will be held indirectly by the Abu Dhabi Government. The developer will enter into a long-term power purchase agreement (PPA) with EWEC, the single buyer of power and water capacity and output in the Emirate of Abu Dhabi.
EWEC aims to produce nearly 50% of its electricity from renewable and clean energy sources by 2030. The United Arab Emirates' total capacity was 42 GW (end of 2022) and is dominated by gas-fired (82%), followed by nuclear (10%), solar (7%), and oil (1%).
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