DEWA Raises Investment in Mega Solar Park to Reach Dhs16bn
Dubai’s water and power utility DEWA said on Saturday it had agreed to increase the amount of electricity it would purchase from a solar park being built by a consortium led by Saudi Arabia’s ACWA Power. As a result of the increased purchases by DEWA, the park’s capacity would increase to 950 megawatts (MW) from 700 MW, the Dubai government said in a statement. “Following the amendment, the total investment for the ambitious project has reached Dhs16bn ($4.4bn),” it said.
The project’s cost before the capacity increase was estimated at $3.9bn. The project would feature a 260-metre (850-foot) tower receiving focused sunlight, the world’s tallest such tower, the Dubai government said. The first stage of the project is due to be commissioned in late 2020. It is part of the Mohammed bin Rashid al-Maktoum Solar Park, a vast complex which that aims to generate 1,000 MW by 2020 and 5,000 MW by 2030. The government aims to use the solar park and other energy sources to increase the share of clean energy in Dubai’s power output to 7 per cent by 2020, 25 per cent by 2030 and 75 percent by 2050.
Information Source: The Gulf News
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