The DEWA (Dubai Electricity and Water Authority) has reportedly claimed that the Mohammed bin Rashid Al Maktoum Solar Park’s Phase IV will have the world’s largest capacity for energy storage, upon completion. The new phase is expected to possess storage capacity of around 15 hours, which will facilitate round-the-clock availability of energy.
The 950MW Phase IV, with IPP (Independent Power Producer) model-based AED15.78 billion investments, is the largest investment project worldwide, combining CSP (Concentrated Solar Power) and photovoltaic solar power.
Noor Energy 1, a project company founded by a DEWA and ACWA Power-led consortium, was formed for the designing, building, and operation of the facility. 51% of the company is owned by DEWA, 25% by ACWA Power, and 24% by the Silk Road Fund.
The plant makes use of 3 hybrid technologies for the production of clean energy. For instance, 1000MW is used from a Molten Salt technology-based solar power tower, 600MW (in three 200MW units) is from a parabolic basin complex, and 250MW is from PV solar panels.
The plant is aiming at offering clean energy to over 320,000 residences and facilitating the reduction of over 1.6 million tonnes of CO2 emissions annually. As per a statement released by DEWA, Phase IV of the project will commence operations in stages, from Q3 of 2021.
The park, spanning across 44 sq. km, has achieved several world records over the years, such as the lowest LCOE (Levelised Cost of Electricity) of around $7.3 cents per KW for the 700MW CSP, as well as $2.4 cents per kWh for 250MW PV solar panels. It also features the tallest solar power tower in the world, with a height of 262.44 m.
Known as the largest single-site solar facility across the globe, the Dubai-based solar park includes an investment of nearly AED50 billion. The project is also targeting a total capacity of almost 5,000MW by the year 2030.
Source Credit: http://tradearabia.com/news/CONS_375700.html
