Abu Dhabi state renewables firm Masdar has been announced as the Preferred Bidder to build and operate the 1.8GW Phase Six of Dubai’s Mohammed bin Rashid Al Maktoum (MBR) solar park. A Power Purchase Agreement (PPA) and financial close agreements are expected to be signed soon, with the facility becoming operational in stages from 4Q 2024.
Masdar submitted the lowest bid of US¢1.62/KWh for the project, which is due to be completed in 2026. This is the lowest levelized cost of electricity (LCOE) for a project in Dubai, although it is significantly higher than the lowest figures in Abu Dhabi and neighboring Saudi Arabia (MEES, 16 June). (CONTINUED - 568 WORDS)