"ACWA Power and Shanghai Electric are both acknowledged as important participators in the global energy field," Jianhua said. "The Power Purchase Agreement (PPA) for the project was signed in April 2020 between Dubai Electricity and Water Authority (DEWA) and ACWA Power, achieving a world-record solar energy tariff for 1.6953 cents per kilowatt hour.The Mohammed Bin Rashid Solar Park will be a key pillar in fulfilling Dubai Clean Energy Strategy 2050 to increase the share of clean energy in Dubai’s total power output to 75% by 2050.
The EPC contract was signed in a private virtual meeting between the parties.The solar plant will also be the first utility-scale project, which will operate remotely with zero manpower on site.Shanghai Electric chairman Zheng Jianhua said: “ACWA Power and Shanghai Electric are both acknowledged as important participators in the global energy field. With an investment of USD 564 Million, the 900 MW photovoltaic plant, is the first utility scale solar PV power plant to operate remotely with zero manpower on site, and is aimed to be delivered by Shanghai Electric in three phases, with a construction period of 12 months on each 300MWp phase. May18,2020 Shanghai Electric Power Company Limited (600021): Abstract of A... Nov26,2019 Shanghai Electric Power Company Limited (600021): Announcement ... Picture News Shanghai Electric is China's leading energy equipment manufacturer, which has been dedicated to the production of coal fired power generation equipment, steam turbine generator, coal mill and etc. By: Carla Sertin ACWA Power announced the appointment of Shanghai Electric as the Engineering, Procurement and Construction (EPC) contractor for the 5th phase of the Mohammed bin Rashid Solar Park, which follows within only 3 months of the PPA signing between Dubai Electricity and Water Authority (DEWA) and the consortium led by ACWA Power. You can change your cookie settings through your browser.Screen, analyze and compare projects in the Middle East and North Africa across Infrastructure, Real Estate, Industrial and Energy sectors with Refinitiv’s Eikon.Refinitiv research team update company information from primary sources (company annual reports, press releases, company websites, corporate briefings, official statements/interviews) and reliable secondary sources (stock markets, reliable third party publications).Access the most comprehensive database of companies and officers in the Middle East and North Africa, covering all major sectors and industries, from Refinitiv.Quickly uncover hidden opportunities with comprehensive data and content. The signed 900 MW Photovoltaic Solar Power – Independent Power Project Phase V today would be another milestone in the bilateral cooperative track.The award of the EPC contract follows less than three months of the PPA signing between DEWA and ACWA Power.