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FINANCIAL NEWS
UAE inaugurates Shams 1, world’s biggest solar power plant
18 Mar 2013
(MENAFN) The UAE has officially launched the world’s biggest-concentrated solar power project, Shams 1, reported Gulf News.
The project, a joint venture between Masdar, Total and Abengoa Solar, will boost the country’s domestic production of renewable energy and will prolong the lifespan of valuable hydrocarbon resources.
The project was inaugurated by the UAE President His Highness Shaikh Khalifa Bin Zayed Al Nahyan, who said that Shams 1, which is a major milestone in the UAE’s plan to diversify its revenue income and to secure energy, will sustain the growth of a promising new industry.
According to Sultan Al Jaber, Minister of State and CEO of Masdar, the project, which is now fully operational, has a capacity of 100 megawatt and will generate clean energy enough to power 20,000 homes in the country.
It is worth noting that Shams 1, the world’s largest concentrated solar power plant (CSP) in operation, was designed and developed by Shams Power Company.
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