ACWA Power leads solar project in Dubai

The commercial operations for the third phase of a 900-megawatt solar project in Dubai, developed by Shuaa Energy 3, are about to kick off. ACWA Power, a Saudi energy firm holding a 24 percent stake in the project, has announced the issuance of the Project Commercial Operation Certificate for Phase C. This certificate signifies the completion of the Mohammed bin Rashid Al Maktoum Solar Park facility for commercial operation, with Phase C contributing an additional 300 MW to achieve a total capacity of 900 MW. The plant employs bifacial photovoltaic technologies and a single-axis tracking system to maximize energy production.

Shuaa Energy 3, a special purpose vehicle for the solar park's fifth phase, is jointly owned by Dubai Electricity and Water Authority, Gulf Investment Corporation, and ACWA Power. They have inked a 25-year power purchase agreement to support Dubai's Clean Energy Strategy 2050. Furthermore, ACWA Power has recently finalized a power purchase agreement for a 5-gigawatt wind power project in Uzbekistan and secured a senior debt financing agreement for the Qassim 1 Combined Cycle Power Plant in Saudi Arabia.

The progress of the solar project in Dubai marks a significant step towards achieving sustainable energy goals. With the integration of advanced technologies and strategic partnerships, the project not only contributes to the local energy sector but also aligns with broader clean energy initiatives. The commitment to long-term agreements and diversification into other renewable energy projects demonstrates a proactive approach towards a greener future.