Saudi, Chinese firms sign contract to build 4th phase of Dubai solar park

SHANGHAI / WAM

Saudi Arabia’s ACWA Power and China’s Shanghai Electric have signed an Engineering, Procurement, and Construction (EPC) contract for the 700MW fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park. Saeed Mohammed Al Tayer, Managing Director and CEO of Dubai Electricity and Water Authority (DEWA), said, “I am pleased to be here today (Saturday) in Shanghai for the signing of the engineering, procurement, and construction contract for the 700MW fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park, the largest Concentrated Solar Power (CSP) investment project in the world. We are here today to show the strong ties between our two great nations, which have been formed because of our shared values and our trading and economic interests. Bilateral trade between the United Arab Emirates and the People’s Republic of China has already exceeded $35 billion in the first nine months of 2017.”
He said the Mohammed bin Rashid Al Maktoum Solar Park has a planned capacity of 5,000MW by 2030, with a total of $13.6 billion dollars (AED 50 billion) in investments to accelerate diversification to clean energy.
According to Al Tayer, the project will feature the world’s tallest solar tower, measuring 260 metres, with the world’s largest thermal energy storage capacity.
It will provide clean energy to over 270,000 residences in Dubai.