EPC contract signed between ACWA Power and Shanghai Electric

The Concentrated Solar Power (CSP) investment project is the largest of its kind in the world based on the Independent Power Producer (IPP) model.

Saeed Mohammed Al Tayer, Managing Director and CEO of Dubai Electricity and Water Authority (DEWA) today signs the engineering, purchasing and construction contract between "Aqua Power" Saudi Arabia and Shanghai Electric in Shanghai, China to complete the fourth phase of Mohammed bin Rashid Al Maktoum Solar energy complex.

The contract was signed between Saudi Arabia's ACWA Power and China's Shanghai Electric, the project's main contractor, at the Radisson Blu Plaza Xingguo hotel in Shanghai, China.

The contract was signed by Mohammad Abdullah Abunayyan, Chairman of ACWA Power, and Cao Min, President of Shanghai Electric.

"I am pleased to be here today in Shanghai for the signing of the engineering, procurement, and construction (EPC) contract for the 700MW fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park, the largest Concentrated Solar Power (CSP) investment project in the world," expressed Al Tayer, while speaking at the signing ceremony.

"We are here today to show the strong ties between our two great nations, which have been formed because of our shared values and our trading and economic interests. Bilateral trade between the United Arab Emirates and the People's Republic of China has already exceeded USD35 billion in the first nine months of 2017," he added.

Al Tayer witnesses signing of EPC Contract between ACWA Power & Shanghai Electric #DEWAnews pic.twitter.com/BHKi2Xyoos

— DEWA | Official Page (@DEWAOfficial) April 14, 2018

"This marks considerable progress in our efforts to achieve the objective of the Dubai Clean Energy Strategy 2050 to provide 75 percent of Dubai's total power output from clean sources by 2050. This will transform the Emirate into a global hub for clean energy and green economy; and support its objective of becoming the city with the lowest carbon footprint in the world," he further added.

The project supports the Dubai Clean Energy Strategy 2050, to transform Dubai into an international hub for clean energy and green economy, by providing 7percent of Dubai's total power output from clean resources by 2020, 25 percent by 2030, and 75 percent by 2050.

The park is the largest single-site solar park in the world based on the IPP model. Once it is complete in 2030, the total area of the solar park will be 214 square kilometers. The solar park has a total planned capacity of 1,000MW by 2020, and 5,000MW by 2030

The solar park is a total investment of AED 50 billion. The solar park will diminish 6.5 million tonnes of carbon emissions per year.