HE Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA) visited the second stage of the Mohammed bin Rashid Al Maktoum Solar Park, which holds a capacity of 200 megawatts (MW) and is one of the parks present projects, situated in Seih Al-Dahal, Dubai. The progress made on the projects supports the Dubai Clean Energy Strategy 2050, released by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to supply 7 % of Dubai's energy from clean sources by 2020. This target will enhance to 25 % by 2030 and 75 % by 2050.

Al Tayer was accompanied by Nasser Lootah, Executive Vice President of Generation at DEWA, Waleed Salman, Executive Vice President of Strategy & Business Development at DEWA, Hussain Lootah, Executive Vice President of Transmission Power at DEWA, Khawla Al Mehairi, Vice President of Marketing & Corporate Communications at DEWA, Moza Al Akraf, CIO of DEWA, Saeed Al Jallaf, Vice President of Transmission Projects and Permits, Jamal Shaheen Al Hammadi, Vice President of Special Projects at DEWA, and Khalifa Al Mehairi, Vice President of Distribution Maintenance at DEWA.

Al Tayer was briefed about the development made at the 2nd phase of the Mohammed bin Rashid Al Maktoum Solar Park by officials from Shuaa Energy 1. The 2nd phase is based upon the Independent Power Producer model and will be functional by April 2017.

DEWA has actually set a world record by acquiring the most affordable price worldwide, at USD 5.6 cents per kilowatt (kW). Shuaa Energy 1 is a business established by DEWA to complete the project according to UAE legislation. DEWA is the bulk shareholder at 51 % with Saudi Arabia's ACWA Power, and the Spanish industrial group TSK taking the remaining stake.

DEWA is working carefully with Shuaa Energy 1 to ensure that the second phase of the park is functional by April 2017. The project worth AED 1.2 billion in financial investments and occupies a total area of 4.5 square kilometres (km). Al Tayer stressed the significance of meeting the due date.

HH Sheikh Mohammed bin Rashid Al Maktoum inaugurated the second phase of the Solar Park, which is the biggest single-site project of its kind in the world, and is based upon the IPP model. It will create 1,000 MW by 2020, and 5,000 MW by 2030, with total financial investments of AED 50 billion. It will help attain a reduction of approximately 6.5 million tonnes of carbon emissions each year. Shuaa Energy 1 won three awards for the task: the Solar Project offer of the Year from the IGI Global journal, the MESIA Utility-Scale Solar Project of the Year from the Middle East Solar Industry Association, and the Private Finance Deal of the Year at the Bonds, Loans & Sukuk Middle East Awards 2015.