Dubai Electricity and Water Authority (DEWA) announced on Monday the appointment of a consortium led by Ernst & Young (EY Consulting) to provide consultancy services for implementing the 6th phase of the Mohammed bin Rashid Al Maktoum Solar Park.
The 900MW 6th phase of the solar park, being implemented as an independent power producer (IPP), is scheduled to become operational in stages between 2025 and 2027.
Upon the completion of the 6th phase, the solar park’s production capacity is to reach 3,760 MW.
Advisory services to be provided by the consortium include reviewing existing UAE legislation and regulatory frameworks, IPP developer tender document preparation and financial model development.
The mandate to the consortium also includes the development of tender submission management and evaluation, commercial negotiation and concluding a power purchase agreement and financial closure with the developer.
The scope also includes preparing a project marketing plan and activities, local and international roadshows and workshops, DEWA said.
The project is the world’s largest single-site solar park.
Its total production capacity is to reach 5,000 MW by 2030, with investments of up to AED50 billion.
The current production capacity of the solar park is 1,827 MW using photovoltaic (PV) solar panels.
DEWA is also implementing other projects at the solar park with a total of 1,033 MW using PV and concentrated solar power (CSP) technologies.
Since its launch, the solar park has attracted broad interest from international developers, which reflects worldwide investor confidence in the major projects implemented by DEWA in cooperation with the private sector, using the IPP model.
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