Shuaa Energy 1 PSC, ownership and developer for the second phase of the Mohammad bin Rashid Solar Park in Dubai, announced today that it has crossed the 50 percent threshold for construction of the project.
More than 900 manpower are currently working on site across a surface area of 4.4 km2 to deliver the project in a record 12-month timeframe. The project achieved Financial Close back in 2015 with a consortium led by ACWA Power and have TSK as the EPC Contractor and DEWA as the Offtaker and major shareholder. The project will supply Dubai with 200 MW of solar power.
Shuaa Energy will install over 2.3 million solar panels – enough capacity to power 30,000 homes in the Dubai. It will also become the city’s first project to be delivered under the Independent Power Project (IPP) model, forming a part of what will be the world’s largest solar complex. The entire park is expected to deliver over 5,000 MW of solar power once complete.
The Mohammed bin Rashid Solar Park was announced in January 2012, in line with the vision of vision of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to promote renewable energy sources in the country.
It also forms a part of the Dubai Clean Energy Strategy 2050, which aims to make Dubai a global centre of clean energy and green economy. Under the strategy guidelines, the emirate aims to provide seven percent of Dubai’s energy from clean energy sources by 2020, increasing this target to 25 per cent by 2030 and 75 per cent by 2050.
Commenting on the announcement, HE Saeed Mohammed Al Tayer, Managing Director & CEO of DEWA, said: “The second phase of the Mohammed bin Rashid Solar Park, inaugurated last year by his HH Sheikh Mohammed bin Rashid Al Maktoum, represents a new era for our economy – and one that is dependent on sustainability and renewable energy. Our goal is to help this city achieve its vision of having the smallest carbon footprint in the world by 2050 – in line with HH Shaikh Mohammad Bin Rashid Al Maktoum’s Clean Energy Strategy, which requires that we lead the way in providing alternatives to traditional energy sources, contributing to the growth in the country’s renewable energy sector.”
Abdulhameed AlMuhaidib, CEO of Shuaa Energy, has commented on this achievement: “Work on the project is on track to be completed by the second quarter of 2017, with over 1 million PV panels installed to date. Once compete, we expect that this phase will reduce carbon emissions in the emirate by 470,000 metric tonnes/year. We’re proud to announce 670,000 safe-man-hour to date with more than 50% of the construction progress being completed..”
In recognition of its success, the company has received a number of awards for its work on the project, including the IJ Global and Power-GEN Asia awards for ‘Solar Project of the Deal’, as well as the Bonds Loans & Sukuk Middle East Awards ‘Best Project Finance Deal of the Year’ and MESIA Utility Scale Solar Project of the Year.
