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Bloomberg
Masdar and Electricite de France SA are jointly bidding to build a 350-megawatt solar power plant in Abu Dhabi as OPEC’s fifth-largest oil producer diversifies electricity sources to meet burgeoning demand.
The partners plan to make the bid “as competitive†as the record-low offer that this week won Masdar the right to build a solar facility in neighboring Dubai, Masdar Chief Executive Officer Mohammad Jameel Al Ramahi said on Wednesday. The decline in solar panel costs helped Masdar make the lowest bid, Al Ramahi said. EDF wasn’t immediately available for comment.
The UAE is taking advantage of falling solar prices to tap alternatives to the oil and natural gas used in the region’s power industry. The country, which imports gas to run most of its power plants, is building four nuclear generators, while also developing renewables.