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FINANCIAL NEWS
Dubai launches 1,000MW Solar Park
10 Jan 2012
(MENAFN) Dubai’s Supreme Council of Energy’s vice-chairman, Saeed Al Tayer, said that the council would execute the 1,000 megawatt Mohammad Bin Rashid Al Maktoum Solar Park, which was launched by the Ruler of Dubai, reported Gulf News.
Al Tayer, who is also the managing director and CEO of the Dubai Electricity and Water Authority (Dewa), added that Dewa would run and operate the USD3.26 billion project, aimed at diversifying Dubai’s sources of energy.
He also said that by 2013’s fourth quarter, the park would achieve an output capacity of 10MW at a cost of USD32.66 million, whereas it would produce 1,000MW by 2030.
It is worth noting that the government of Dubai is targeting solar energy to supply 1 percent of the emirate’s energy by 2020 and 5 percent by 2030, according to the Dubai Integrated Energy Strategy 2030.
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