The Emirati renewable energy company Masdar has been awarded a contract to build and operate the 1.8 GW sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park, which is located in southern Dubai Emirate (United Arab Emirates). The contract was awarded by the Dubai Electricity and Water Authority (DEWA). Masdar was selected among 23 bidders and offered a Levelised Cost of Energy (LCOE) of US$1.62c/kWh. This sixth phase of the solar project is projected to cost AED5.5bn (US$1.5bn). It will provide power to about 500,000 Emirati households and is expected to offset emissions by 2.36 MtCO2/year.
The Mohammed bin Rashid Al Maktoum Solar Park is the largest single-site solar park in the world with a total planned capacity of 5 GW upon completion by 2030. The solar park, which is expected to require a total investment of AED50bn (US$13.6bn), based on the Independent Power Producer (IPP) model, is expected to reduce emissions by 6.5 MtCO2/year when fully completed. Dubai inaugurated the 900 MW fifth phase of the project in June 2023.
The UAE’s solar capacity increased from 0.6 GW in 2018 to 2.7 GW in 2021, representing about 6% of the country’s total installed capacity. Solar represented around 3% of power generation in 2022.
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