HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA) announced today the chosen bidder for the 800 megawatt (MW) third stage of the Mohammed bin Rashid Al Maktoum Solar Park, which will be constructed based on the Independent Power Producer (IPP) model. HE Dr. Sultan Al Jaber, Minister of State, and Chairman of Abu Dhabi Future Energy Company (Masdar) and HE Dr. Thani Ahmed Al Zeyoudi, Minister of Climate Change and Environment, existed. The selected bidder for the project is a Masdar-led consortium consisting of the Spanish companies FRV (Fotowatio Renewable Ventures) and Gransolar Group. The consortium bid a Levelised Cost of Electricity (LCOE), of USD $2.99 cents per kilowatt hour (kW/h).

The statement was made at an interview at the Armani hotel in Dubai, which was participated in by Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, Executive Vice Presidents and Vice Presidents from DEWA, senior management from Masdar, and regional and worldwide media.

The consortium was picked following a significant competitors and an assessment of numerous offers. DEWA has actually gotten 95 Expressions of Interest (EOI) from international energy companies, in response to its tender request over 8-29 September 2015.

DEWA asked for that companies submit their requests for certification prior to November 2015. This was followed by a Request for Proposals (RFP), to competent bidders on 28 December 2015. DEWA received 5 bids from international organisations. The most affordable recorded quote at the opening of the envelopes was USD $2.99 cents per kW/h. In preparation for the next phase, DEWA will establish shareholder and power-purchase arrangements that will be signed in Q4 of 2016.

The selection of the Masdar-led consortium is a testament to the vision of the UAE leadership, the foresight of the Dubai Clean Energy Strategy 2050, and the commitment of Dubai Electricity and Water Authority to realise ambitious renewable energy projects. It also reflects the technical expertise and proven track record that Masdar has built over the last ten years, said HE Dr Sultan Ahmed Al Jaber.

The UAE firmly believes that meeting the worlds growing energy demand requires a mix of energy sources, where we build on our existing assets of conventional energy, complementing them with alternative sources. By using multiple sources of energy such as natural gas, nuclear and solar, we are delivering both baseload generating capacity and the ability to meet peak energy demand efficiently and cost effectively.

" Phase three of the Mohammed bin Rashid Al Maktoum solar park is a clear signal that solar power is a reliable and commercially-viable technology, and a key part of the UAE's well-diversified energy method," Al Jaber added.

" Today's important conference supports the directives of His Highness Sheikh Khalifa bin Zayed Al Nahan, President of the UAE, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Abu Dhabi Executive Council," said Al Tayer.

" Today, we take another advance for solar energy by revealing the selected bidder for the 800 megawatt (MW) 3rd phase of the Mohammed bin Rashid Al Maktoum Solar Park. We have a roadmap to achieve this, that includes enthusiastic efforts and development jobs to offer outstanding government services based on world-class requirements, to attain everyone's joy. This is a new phase of our economy that is based upon environmental sustainability and clean energy making Dubai the city with the lowest carbon footprint on the planet."

" DEWA has received a globally-competitive cost of USD 2.99 cents per kilowatt hour (kW/h) for the park's third stage, which will use photovoltaic technology and will be functional by 2020. This is based on the IPP model, thanks to the Masdar-led consortium consisting of the Spanish business FRV (Fotowatio Renewable Ventures) and Gransolar Group. The importance of the Mohammed bin Rashid Al Maktoum solar park depends on two points: it is the very first of its kind in the region, and in its capability. It is the first of numerous appealing projects to utilize renewable energy to generate electrical energy in Dubai," included Al Tayer.

" Since the statement of the Mohammed bin Rashid Al Maktoum solar park, the job has actually brought in huge interest from the business and energy sectors. DEWA received several offers from international solar power companies, showing the trust and interest from investors in large projects by Dubai Government. This has actually been motivated by favourable present policies and legislation in Dubai that allow economic sector partnerships in power-production projects in the Emirate."

We have actually achieved substantial success in photovoltaic energy. We make every effort to implement the Dubai Clean Energy Strategy 2050 to diversify the energy mix so clean energy will create 25% of Dubai's total power output by 2030 and 75% by 2050.

" Earlier this month, and in adherence with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, we released the largest Concentrated Solar Power (CSP) job on the planet, utilizing the IPP model, with an anticipated capability of 1,000 MW by 2030, at the Mohammed bin Rashid Al Maktoum Solar Park, which is the largest single-site solar park worldwide with a prepared capability of 5,000 MW by 2030 with an overall financial investment of AED 50 billion," stated Al Tayer.

" DEWA has released a tender for prominent global CSP consultants to submit their proposals for advisory services for the 200MW initially project of the CSP plant. DEWA will create 1,000 MW utilizing this technology by 2030 at the Mohammed bin Rashid Al Maktoum solar park. The solar park's 13MW first stage ended up being operational in October 2013.

" Energy is an integral part of the social and economic development of all nations, and the transformation to clean energy has favorable environmental, social, and economic impacts, making traditional energy less competitive and attractive for further financial investments. Clean energy is a fantastic chance for the future as need keeps rising all over the world. Oil rates and enhanced innovation have actually assisted increase the share of renewable energy in the energy mix. This makes innovation a crucial consider the improvement to clean energy. At DEWA, we encourage research and development in solar energy, to enhance energy security and sustainability."

" Our wise leadership has a vision to make the UAE the most sustainable nation worldwide by launching project in clean and renewable resource, making sure the Emirate's continuous growth, while at the same time securing its natural resources, and forming the future of energy in the area as a whole, to attain sustainable development and promote the welfare of citizens, residents, and visitors, to guarantee a sustainable future, for generations to come," concluded Al Tayer.

" The selection of the Masdar consortium to establish stage 3 of the Mohammed bin Rashid Al Maktoum solar park is a historical accomplishment for our company as we mark ten years of operations," stated Mohamed Jameel Al Ramahi, CEO of Masdar.

" The Masdar consortium will commit all of its experience and proficiency to understanding this world-class project. It is thanks to the technical clearness and transparency provided by DEWA that we have actually had the ability to deliver such a highly-competitive quote."

Masdar is committed to accelerating the adoption of clean technologies and renewable energy, building on our decade-long experience and supporting the UAEs strategy to increase the share of clean energy in its energy mix, Al Ramahi added. We stand ready to develop new opportunities in the UAE and elsewhere in the GCC, including new markets such as Saudi Arabia.