Abu Dhabi 2 GW solar contracts to be signed in August
The power purchase agreement for the planned 2 GW Al-Dhafra photovoltaic solar project in Abu Dhabi is likely to be signed in August.
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UAE, Abu Dhabi: The power purchase agreement for the planned 2 GW Al-Dhafra photovoltaic solar project in Abu Dhabi is likely to be signed in August.
A consortium led by France’s EDF and China’s Jinko Power submitted the lowest tariff for the planned 2 GW PV independent power project in April following a competitive bidding process.
According to sources close to the scheme, the EDF/Jinko consortium is in negotiations with the client and the PPA will be concluded in early August.
The full list of bidders: EDF / Jinko Power, Acwa Power, Marubeni / Total , Engie / Alfanar, Softbank Energy / Eni.
The five groups bidding for the contract submitted revised proposals on 1 March, after the consortiums had submitted original proposals on 21 November.
The client had been preparing to open proposals during a public read-out on 18 March, however this was postponed due to the restrictions placed on public gatherings as a result of the Covid-19 virus outbreak.
The project will involve the financing, construction, operation and maintenance of the solar plant under a long-term power purchase agreement.
The successful developer will form a special-purpose vehicle company in partnership with Ewec. The successful developer will own up to 40 % of the SPV, with the Abu Dhabi government to hold the remaining 60 % stake.
The project will be Abu Dhabi’s second major PV solar scheme.
Source: Energy & Utilities