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Dubai’s Dewa has announced financial close for the 800MW solar photovoltaic (PV) phase three of a 5GW solar park that is under construction at Seih al Dalal, 50km south of Dubai city, for start-up in three stages during 2018-20. The state utility has not disclosed the project cost, but says the cost of the overall park – due for completion by 2030 – will amount to Dh50bn ($13.6bn).
Phase three will be developed by Abu Dhabi’s state renewables firm Masdar and France’s EDF, who bid a world record low levelized price for electricity of US¢2.99/kWh. This was subsequently beaten by a bid of US¢2.42/kWh received by Abu Dhabi utility Adwea from Japan’s Marubeni and China’s Jinko Solar for the 1.18GW Sweihan PV project to be built 120km of Abu Dhabi city. (CONTINUED - 297 WORDS)