Thursday , June 27 2019

Dewa, consortium complete financing for Dubai solar park

Abu Dhabi / WAM

Dubai Electricity and Water Authority (Dewa) and the consortium led by Saudi Arabia’s Acwa Power and Silk Road Fund, which is owned by the Chinese Government, annou-nced financial closing of the 950-megawatt fourth phase of Mohammed bin Rashid Al Maktoum Solar Park, the largest single-site solar park in the world. The solar park will produce 5,000 megawatts by 2030 with investments totalling AED 50 billion.
This is a new milestone in promoting the use of clean and renewable energy.
The announcement was made by Saeed Mohammed Al Tayer, MD & CEO of Dewa, and Mohammad Abdullah Abuna-yyan, Chairman of AcwaPower, at a press conference that was attended by Tan Li, Consul General of the Republic of China in Dubai, and Erik Rovina, Commercial Counselor to the Spanish Embassy in the UAE.
In his speech at the conference, Al Tayer noted that this achievement supports DEWA’s efforts to increase the share of renewable and clean energy in Dubai and strengthen the UAE’s position as a leading global hub for clean energy and green economy. This has been achieved thanks to the vision of the wise leadership of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE; His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai; and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. Their vison anticipates the future and recognises the importance of renewable energy in achieving a balance between development and the environment.

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