Emirati state-held power and water utility Emirates Water and Electricity Company (EWEC) has received expressions of interest (EoIs) from 48 developers and prequalified 24 bidders to build a 2,000 MW solar PV power project at Al Dhafra, near Abu Dhabi (United Arab Emirates). The tender was launched in February 2019 and bidders will have until the fourth quarter of 2019 to submit their application. Under the term of this tender, the successful bidder will take up to a 40% interest in a special purpose vehicle (SPV) company that will be set up for the project, while the remaining 60% equity will be held directly, or indirectly, by EWEC’s parent Abu Dhabi Power Corporation (ADPC) or other governmental entities. Upon completion of the project (expected in the first quarter of 2022), the produced electricity will be sold to EWEC under a long-term power purchase agreement (PPA).
Abu Dhabi aims to generate 7% of its electricity from renewable sources by 2020.
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