Dubai to increase investment in solar project to $ 4.3 billion

The Dubai Electricity and Water Authority (DEWA) has signed an agreement to increase the purchase of solar energy from the consortium led by the Saudi group Aqua Power for phase 4 of the Mohammed bin Rashid Al Maktoum Solar power complex.

The new deal, signed Saturday night, added 250 megawatts of solar photovoltaic technology at an energy cost of 2.4 cents US per kilowatt hour, the lowest in the world.

According to a statement posted on the website of the Dubai Government Information Bureau, the new agreement brings the total capacity of the solar energy project phase 4 of Bin Mohammed Al Rashid Al Maktoum from 700 to 950 MW.

Under the new agreement, the total investment of the solar energy project Mohammed Bin Rashid will rise to 16 billion dirhams (4.36 billion dollars), instead of 3.9 billion dollars, before the agreement to increase production capacity. Of the project.

Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of the Executive Council, said: "The development of clean energy technologies supports ambitious projects for the future development of various sectors and underlines the leadership of the UAE sustainable development.

"Clean energy is a strategic option that we are developing to use to support our development ambitions without affecting the environment we protect and preserve for future generations." Our goal is to build an integrated system of energy efficiency. Clean and renewable energy,.

Sheikh Hamdan praised the cooperation between the Dubai Electricity and Water Authority (DEWA) and the consortium led by Aqua Power (Saudi Arabia), which includes the Chinese Government's Silk Road Fund, during this phase of the complex. .

The project will use three common technologies for clean energy production: the 600 megawatt parabolic reflector system, the 100 megawatt solar power station and the 250 MW solar photovoltaic panels.

It is the largest solar energy investment project in the world, in one place and as part of an independent product system. According to the statement, the project has achieved several world records, the cost of concentrated solar energy rising to 7.3 US cents per kilowatt hour and the world's least.

Phase 4 includes the construction of the world's tallest solar tower at 260 meters and the largest solar storage capacity of 15 hours, allowing for 24 hours of power generation.

Noor Energy-1, which includes the Dubai Electricity and Water Authority (DEWA), Silk Road Fund and Aqua Power, Saudi Arabia, were created to carry out the Phase IV project of the Energy Project. solar Mohammed Bin Rashid Al Maktoum. Clean up in Dubai with capacity up to 5,000 megawatts by 2030.