Masdar, the UAE’s renowned clean energy leader, has been awarded the prestigious sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park PV Project in Dubai. The monumental project, featuring an estimated cost of up to AED 5.51 billion, marks a significant milestone in the country’s drive towards decarbonization and a cleaner energy future.
The sixth phase of this iconic solar park, boasting an impressive 1,800MW capacity, will propel the solar park’s total production capacity to a staggering 4,660MW. This expansion comes just ahead of the UAE’s hosting of COP28, highlighting the nation’s unwavering commitment to reducing carbon emissions both domestically and globally.
The ambitious sixth phase of the project is set to become operational in stages, starting from the fourth quarter of 2024. Once completed, it will power over half a million residences while making a substantial impact on the environment, reducing carbon emissions by a remarkable 2.36 million tonnes annually.
The Mohammed bin Rashid Al Maktoum Solar Park represents a monumental investment in clean energy infrastructure, with all phases of the project anticipated to be finalized by 2030. The total investment for this groundbreaking initiative is projected to reach AED 50 billion, showcasing the UAE’s dedication to sustainable energy solutions.
Leadership Witnesses Agreement Signing
The signing of the agreement between the Dubai Electricity and Water Authority PJSC (DEWA) and Masdar took place in the presence of several esteemed leaders, including Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai; Sheikh Mansour bin Zayed Al Nahyan, Vice President and Deputy Prime Minister of the UAE and Minister of the Presidential Court; Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior; Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs; and Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs.
Sheikh Mohammed bin Rashid expressed his optimism regarding this significant development, stating, “Today, I witnessed with Mansour bin Zayed the signing of an agreement between the Dubai Electricity and Water Authority (DEWA) and Masdar, Abu Dhabi Future Energy Company, to implement the sixth phase of the world’s largest single-site solar park, at a cost of AED 5.5 billion.”
“This phase will power over half a million residences while reducing carbon emissions by 2.36 million tonnes annually. All phases of this landmark project are expected to be completed by 2030, with a total investment of AED 50 billion. We’re on track to achieve our ambitious goal – 100 percent clean energy for Dubai by 2050.”
Unprecedented Achievement in Clean Energy
Masdar’s selection for this phase of the project came after a rigorous evaluation process, with 23 high-caliber international bidders vying for the opportunity. Masdar’s proposal presented a Levelized Cost of Energy (LCOE) of just USD 1.6215 cents per kilowatt hour (kWh), marking the lowest LCOE recorded for any of DEWA’s solar Independent Power Producer (IPP) model projects to date.
The Mohammed bin Rashid Al Maktoum Solar Park currently holds a total production capacity of 2,427MW, with DEWA actively constructing another project with a total capacity of 433MW. The addition of the 1,800MW sixth phase will elevate the solar park’s combined production capacity to an extraordinary 4,660MW.
Upon completion, this phase will supply clean energy to approximately 540,000 residences while making a substantial contribution to environmental preservation by reducing carbon emissions by 2.36 million tonnes annually. With phase VI, DEWA has achieved a remarkable milestone by securing the lowest Levelized Cost of Energy (LCOE) at USD 1.6215 cents per kilowatt hour (kWh).