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FINANCIAL NEWS
Abu Dhabi’s Solar Plant Shams 1 to be ready by year-end
29 Mar 2012
(MENAFN) Abu Dhabi’s Shams Power Company’s General Manager, Yousuf Al Ali, said that by the end of 2012, the USD600 million Solar Plant Shams 1 would be finished, reported Gulf News.
Al Ali added that upon completion, the project would be the largest solar project in the world and would provide the UAE capital with power at commercial prices.
He also said that the plant would have a capacity of around 100MW and a solar field consisting of 768 parabolic trough collectors.
Moreover, the plant is located at Madinat Zayed over an area of 2.5 square kilometers, adding that construction started during 2010’s third quarter and was developed under a 25-year build, own and operate contract.
It is worth noting that Shams 1 is a joint venture between UAE’s Masdar, holding 60 percent in the project, Total, which owns 20 percent and Abengoa, also holding 20 percent.
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