Masdar and FRV win 800MW Dubai tender

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
First Solar has been involved in the two previous phases of the Solar Park. Source: First Solar.

Masdar and FRV have won Duabi’s 800MW tender process after offering an initial bid below US$0.03/kWh.

The consortium, which also includes Spanish firm GranSolar, will operate as an independent power provider (IPP). The Mohammed Bin Rashid Al Maktoum Solar Park has already commissioned a 13MW first phase and work on a second round of 200MW is underway.

FRV was bought by Saudi-owned, Dubai-based company Abdul Latif Jameel Energy and Environmental Services in April 2015.

The tender rules are likely to give the Dubai Electricity and Water Authority (DEWA) 51% ownership and the Masdar-led entity 49%, as per previous tender rounds.

Five bids were thought to be competing for the final award with a JinkoSolar bid of US$0.0369/kWh, edging out an offer of US$0.0396/kWh by ACWA Power and First Solar, winners of the previous 200MW round along with Spain's Grupo TSK.

The agreement to put the deal in place was signed by UAE Minister of State and chairman of Masdar, Abu Dhabi Future Energy Company, Dr. Sultan Ahmed Al Jaber.

“The significant scale and competitive cost of this project are a clear signal that solar energy is a reliable and commercially viable technology,” said Al Jaber.

“The selection of the Masdar-led consortium to develop the third phase of the Mohammed Bin Rashid Al Maktoum Solar Park in Dubai is a testament to the company’s experience and track record over the last decade. It also reinforces Abu Dhabi’s and Masdar’s growing contribution to the development of the renewable energy industry, both domestically and internationally,” he added.

Masdar is itself a state-owned entity and has its own finance arm, Masdar Capital, which has more than US$500 million in its two separate funds.

Masdar is owned by Mubadala Development Company, an Abu Dhabi-backed soverign wealth fund.

Read Next

January 19, 2022
Indonesia could host up to 1.2GW of solar PV that would export electricity to Singapore as part of new proposals put forward by a coalition of four international companies.
January 17, 2022
A round-up of the latest projects news, including EDP Renewables completing Indiana’s largest PV project, two Gulf utility companies pricing their first green bonds and an Australian utility linking its project to the national grid.
January 4, 2022
Abu Dhabi-based renewables company Masdar has secured a deal to develop a solar project in the country of Georgia that will have a capacity of up to 100MW.
December 8, 2021
A US development agency has approved up to US$500 million of debt financing for First Solar to support the manufacturer in setting up a thin film module production plant in India.
November 29, 2021
A round-up of the latest project news from across the world, including Masdar’s plans to develop solar in Armenia, TotalEnergies completing its largest project in France and Shikun & Binui expanding its US energy portfolio.
November 22, 2021
First Solar is to provide PV project developer Lightsource bp and energy major bp with up to 5.4GW of its thin film modules as part of the manufacturer’s largest supply order to date.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
January 26, 2022
Free Webinar
Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 8, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal