Emirates Water and Electricity Co. (EWEC ) has started accepting expressions of interest to develop a 1.5 GW solar project in Abu Dhabi.
EWEC claimed that the 1.5 GW Al Ajban PV project, a greenfield solar plant, will play a “fundamentally important” role in Abu Dhabi’s energy transition. It will also generate enough electricity for about 160,000 homes across the United Arab Emirates. Following the start of commercial operations, it is expected to slash Abu Dhabi’s carbon emissions by more than 2.4 million metric tons per year, according to EWEC.
“Our strategic investments in solar power have seen us develop Noor Abu Dhabi, the current world’s largest single-site solar power plant, and Al Dhafra Solar PV, which will be the new world’s largest single-site solar power plant once commercially operational,” said EWEC CEO Othman Al Ali. “With Al Ajban Solar PV, which will be similar in size and capacity output to Al Dhafra Solar PV, Abu Dhabi and the UAE will have the three largest, world-leading solar power plants, increasing the diversification of our energy production portfolio, and significantly advancing decarbonisation of the energy sector.”
Bidders will be expected to handle the development, financing, construction, operation, maintenance and ownership of the plant. The winning developer will take up to a 40% stake in the project, with the remainder to be indirectly held by the government of Abu Dhabi.
EWEC will sign a long-term power purchase agreement with the selected developer. The PPA will be structured as an energy purchase agreement, under which EWEC will only pay for the net electrical energy supplied by the solar plant.
The company said prospective developers must submit their documents by noon (GST) on May 27.
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