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FINANCIAL NEWS
Saudi ACWA Power, TSK win contract for power plant in Dubai
18 Jan 2015
(MENAFN) A consortium led by Saudi Arabia-based ACWA Power and Spanish engineering firm TSK announced that they have won the contract to build a solar power plant for the second phase of Mohammed Bin Rashid Al Maktoum Solar park, Gulf Business reported.
The project, which has a net power capacity of 200 MW, is the largest utility scale solar plant in the world tendered in a single phase, with expectations that the plant will produce enough electricity to power 30.000 homes every year upon its completion, as well as reduce carbon emissions by 469,650 tons of CO2 equivalent emissions for every year of operation
“Dubai has a clear strategy to diversify its energy mix with renewable energy, and specifically solar, playing a key role. This when combined with a politically stable environment and the availability of low-cost finance means that solar PV technology becomes commercially cost effective,” President and CEO, ACWA Power said.
The project is the second phase of the Mohammed bin Rashid Al Maktoum Solar Park development, located on a 40 square kilometer site to the south-east of Dubai, which is going through expansion project that will result in the facility growing to produce 1.000 MW of electricity by 2030.
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