Gulf Construction Online - Masdar reaches financial close on solar park Phase VI

UAE Focus

MBR Solar Park ... new phase coming up.

Masdar reaches financial close on solar park Phase VI

01 March 2024

Abu Dhabi Future Energy Company (Masdar) has reached the financial closing of the sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park (MBR Solar Park), the largest single-site solar park in the world, along with Dubai Electricity and Water Authority (Dewa).

On completion in 2030, the solar park’s capacity will exceed 5,000 megawatt with investments totalling approximately AED50 billion ($13.2 billion). This is a new milestone in promoting the use of clean and renewable energy in the UAE.

Masdar was selected as the preferred bidder to build and operate the 1,800-MW phase of MBR solar park using photovoltaic solar panels based on the Independent Power Producer (IPP) model, with costs up to AED5.5 billion.

Dewa is implementing the sixth phase of the solar park in co-operation with Masdar, using the latest solar photovoltaic bifacial technologies with single-axis tracking.

For the sixth phase, Dewa established Shuaa Energy 4 in partnership with Masdar. Dewa owns 60 per cent of the company, whereas Masdar owns the remaining 40 per cent.

The current production capacity at the solar park is 2,627 MW and the total capacity under construction is 2033 MW. The 1,800-MW sixth phase of the solar park will see the total production capacity increase to 4,660 MW by 2026.

This phase will provide clean energy for approximately 540,000 residences and will cut around 2.36 million tonnes of carbon emissions annually. The project will cover an area of 20 sq km, officials said.