Dubai Electricity & Water Authority (DEWA) announced in a statement that it has appointed advisors to provide consultancy services for implementing the 6th phase of the Mohammed bin Rashid Al Maktoum Solar Park.
DEWA appointed a consortium led by Ernst & Young to provide consultancy services.
The 900MW 6th phase, which will use PV solar panels, will become operational in stages between 2025 and 2027.
Advisory services provided by the consortium include reviewing existing UAE legislation and regulatory frameworks, IPP developer tender document preparation, financial model development, developer tender submission management and evaluation, development of supplemental agreements, commercial negotiation, and concluding a power purchase agreement and financial closure with the developer. The scope also includes preparing a project marketing plan & activities, local and international roadshows and workshops.
Earlier, during September 2022, DEWA announces the commencement of a competitive tender process to select a suitable developer/developers or developer consortium/consortia to share ownership of project company/companies to be incorporated in accordance with Dubai and UAE laws to build and operate on an Independent Power Project (IPP) basis a new Solar Photovoltaic Power Project Phase VI with an aggregate capacity of 900MW AC. (read more)
The Mohammed bin Rashid Al Maktoum Solar Park, implemented by DEWA based on the IPP model, is the world’s largest single-site solar park. Its total production capacity will reach 5,000 MW by 2030 with investments of up to AED 50 billion. The current production capacity of the solar park is 1,827 MW using photovoltaic (PV) solar panels. DEWA is implementing other projects at the solar park with a total of 1,033 MW using PV and Concentrated Solar Power (CSP) technologies. Upon the completion of the 6th phase, the solar park’s production capacity will reach 3,760 MW. Since its launch, the solar park has attracted broad interest from international developers, which reflects worldwide investor confidence in the major projects implemented by DEWA in cooperation with the private sector, using the IPP model.
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