HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, broke ground on the 4th phase of the Mohammed bin Rashid Al Maktoum Solar Park yesterday.
The biggest Concentrated Solar Power (CSP) investment project in the world, based on the Independent Power Producer (IPP) model, it will generate 700MW on a single site.
The site will also have the world’s tallest solar tower at 260 metres, and the largest thermal energy storage capacity in the world.
It will provide clean energy to 270,000 residences, reducing 1.4 million tonnes of carbon emissions annually.
The project will use two technologies: a 600MW parabolic basin complex and a 100MW solar tower, over 43 square kilometres. This project, with AED14.2 billion in investments, achieved the lowest Levelised Cost of Electricity (LCOE) of USD 7.3 cents per kW/h.
Mohammad Abu Nayyan, chairman of ACWA Power, said, “We are proud of our role in obtaining the lowest price globally for the second phase of the solar park. Today we are driving price reduction for CSP projects globally, achieving more than just one unprecedented world record, by constructing the world’s tallest solar tower and providing the highest storage capacity.”
Cao Min, President of Shanghai Electric, said, “On behalf of Shanghai Electric, I would like to express warm congratulations on the groundbreaking of this project, which is by far the largest and most advanced CSP project co-developed by DEWA and ACWA Power and implemented by Shanghai Electric as EPC contractor.”
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