Middle East Electricity & Solar 2017

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UNITED ARAB EMIRATES IN THE NEWS
UAE, Pacific and Caribbean Renewable Energy Partnership
UAE launches US$50 million renewable energy fund for the Caribbean
The United Arab Emirates (UAE) has officially announced a landmark new US$50
million grant fund for renewable energy projects in Caribbean island countries.
Launched by HE Reem Al Hashimy, Minister of State for International Cooperation,
the UAE-Caribbean Renewable Energy Fund represents one of the largest-ever
single investments in the region's clean energy sector, as well as a significant
deepening of bilateral relationships between the UAE and Caribbean countries. The
funding is provided by the Abu Dhabi Fund for Development (ADFD), with the UAE
Ministry of Foreign Affairs managing the initiative and Masdar, Abu Dhabi’s
renewable energy company, leading implementation. This brings UAE development
assistance for renewable energy to almost $1 billion since 2013, was announced at
Abu Dhabi Sustainability Week 2017. The UAE-Caribbean Renewable Energy Fund
represents a new pillar of expanding cooperation and exchange between the UAE and
Caribbean.
The new fund will seek to conclude project agreements with several countries per
year. Designed for flexibility, it can support renewable energy projects as both as a
minority or full financier, as well as engage with both the public and private sectors.
With Masdar as the technical lead, all sources of renewable energy can be considered,
including solar, wind, geothermal and waste-to-energy.
Construction to begin at 800 MW phase 3 of the Mohammed bin Rashid
Al Maktoum Solar Park
The Construction of the 800 megawatt (MW) phase 3 of the Mohammed bin Rashid
Al Maktoum Solar Park in Dubai will commence at the end of January 2017.This was
announced at Abu Dhabi Sustainability Week (ADSW) 2017.
A Masdar-led consortium was selected last June by Dubai Electricity and Water
Authority (DEWA) to develop what will be the world’s largest solar park on a single
plot on completion, after setting a record-low bid price for solar power generation of
US2.99 cents per kilowatt-hour (kWh). The EPC contract agreement has been
awarded to an international consortium led by specialist renewable energy contractor
GranSolar of Spain, alongside -Spanish specialist Acciona and Ghella of Italy.
Construction of the 16 square-kilometre Phase 3 expansion of the Dubai Solar Park
will occur in three stages. The first 200MW stage is expected to be completed by the
first half of 2018 and the next 300MW phase is due the following year, with the final
300MW tranche to come on stream in the first half of 2020.
The Mohammed Bin Rashid Al Maktoum Solar Park is expected to displace an
estimated 6.5 million tonnes of carbon dioxide per annum on completion in 2030.
DEWA and Masdar to break ground on Phase 3 of Mohammed bin Rashid Al Maktoum Solar Park
A Case Study of Middle East Electricity
Informa Exhibitions – the organiser of the event -- will be creating a series of new features and conferences
in collaboration with Dubai Municipality and Environmental Center for Arab Towns, the strategic partners for
the event. Informa is a leading business intelligence, academic publishing, knowledge and events business,
operating in the Knowledge and Information Economy. It is listed on the London Stock Exchange and is a
member of the FTSE 100. For more information, please visit www.informa.com