Dubai Electricity and Water Authority (DEWA) has received five bids from international developers to build 800MW of solar generation capacity by 2020.
All five bids for the third phase of the Mohammed bin Rashid Al Maktoum Solar Park were for a lower cents per kilowatt hour rate than the previous round of the project.
The lowest bid came from a consortium including the Saudi Arabian developer Abdul Latif Jameel, Spain’s Fotowatio Renewable Ventures and the United Arab Emirates’ Masdar. Their bid for $2.99 c/kWh was drastically lower than the nearest bit, JinkoSolar’s $3.65 c/kWh offer. The highest bid for this phase was from EDF and Qatar’s Nebras for $4.482 c/kWh.
The winning bid for the second phase of the project was an offer of $5.85 cents per kilowatt hour submitted by Saudi Arabia’s ACWA Power and Spain’s TSK.
DEWA said it will review the bids for technical and commercial aspects and make its decision by the end of the month.
The Al Maktoum Solar Park was originally supposed to be a 1GW project but that has been increased to 5GW by 2030, representing a total investment of $13.6 billion.
This is the second solar auction in the United Arab Emirates in a week. The Abu Dhabi Water Electricity Authority shortlisted 34 companies last week to participate in an auction for a 350MW solar project.
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