Emirates Water and Electricity Company (EWEC) has signed a Power Purchase Agreement (PPA) with Engie and Masdar for the production of the 1.5 GW Khazna solar PV project in Abu Dhabi (United Arab Emirates). The PPA is structured as an energy purchase agreement where EWEC has engaged to pay for the net electrical energy supplied by the power plant, while the ENGIE and Masdar will design, finance, build and operate the project. No further details were given regarding tariff deals or scheduled commercial operation date, but the project’s financial close is expected by the end of 2025.
The Khazna Solar PV consists of more than 3 million solar panels, enough to generate enough energy to power about 160,000 homes across the UAE and avoid more than 2.4 MtCO2/year.
EWEC aims to increase Abu Dhabi’s solar power generation capacity to 18 GW by 2035 and to meet 60% of the Emirate’s total power demand from renewable and clean energy sources by 2035.
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