The preferred bidder status was given to the organization by the Dubai Power And Water Authority (DEWA). In June, Masdar offered USD 0.01621 (EUR 0.015) per kWh, which was the lowest levelised cost of energy (LCOE) for the venture in a tender held by the public government-owned company.
The solar project will be created on the Independent Power Producer (IPP) model at an expense of up to AED 5.51 billion (USD 1.5bn/EUR 1.38bn). The complex is planned to be commissioned in stages from the last quarter of 2024. When the whole limit goes on the web, its result will balance over 6.5 million tons of carbon dioxide (CO2) emanations yearly.
Masdar is set to consent to a power purchase agreement (PPA) and monetary close arrangements at the appointed time.
The improvement of Dubai's lead sun powered project is advancing with the complete limit in activity remaining at 2,427 MW and another 433 MW is under development. When the 6th phase is functional, the sunlight based park's ability will reach 4.66 GW. Before this decade's over, the super undertaking ought to be finished with 5 GW in activity, with a sum of AED 50 billion in investments.