Dubai Electricity and Water Authority (DEWA) and Abu Dhabi Future Energy Company (Masdar) have achieved financial closing for the 1.8 GW sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park, expanding its capacity to over 5,000 MW by 2030 with AED 50 billion investment. The solar park utilizes bifacial solar modules paired with single-axis trackers. Presently, it has a production capacity of 2,627 megawatts (MW), with an additional 2,033 MW under construction. Masdar is the Preferred Bidder for the project, costing AED 5.5 billion, providing clean energy for 540,000 homes, reducing 2.36 million tonnes of carbon emissions annually, and achieving a record-low LCOE of USD 1.6215 cents/kWh in the Solar Park’s largest phase.
DEWA and Masdar reach financial closing on MBR Solar Park
Masdar has achieved financial closing with DEWA for the 1.8 GW sixth phase of Mohammed bin Rashid Al Maktoum Solar Park. (Image Credit: Masdar)
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