Solar Power Project in Dubai Ready for Commercial Operations
In a major development, the third stage of a 900-megawatt solar project in Dubai, spearheaded by Shuaa Energy 3, is set to kick off commercial operations.
Saudi energy giant ACWA Power, holding a 24 percent stake in the project, announced that the Project Commercial Operation Certificate for Phase C has been issued, signaling the completion of the Mohammed bin Rashid Al Maktoum Solar Park facility.
Phase C, adding an additional 300 MW, has brought the total capacity of the plant to 900 MW. The plant utilizes advanced bifacial photovoltaic technologies and a single-axis tracking system to maximize energy production.
Shuaa Energy 3, jointly owned by ACWA Power, Dubai Electricity and Water Authority, and Gulf Investment Corporation, aims to generate clean energy in line with Dubai Clean Energy Strategy 2050.
ACWA Power Expands Reach with Wind Power Project in Uzbekistan
Aside from the Dubai solar project, ACWA Power recently signed a power purchase agreement for a 5-gigawatt wind power project in Uzbekistan, worth billions of dollars, aligning with their goal of clean energy production.
ACWA Power will construct, operate, and transfer the wind farm under a 25-year contract, contributing to the development of renewable energy sources in Uzbekistan.
ACWA Power Secures Financing for Qassim 1 Combined Cycle Power Plant
Simultaneously, ACWA Power finalized a senior debt financing agreement for the Qassim 1 Combined Cycle Power Plant in Saudi Arabia, valued at SR5.69 billion and boasting a capacity of 1,800 MW.
The financing was secured from a mix of international and local commercial lenders, highlighting ACWA Power’s commitment to expanding their energy projects globally.