{"id":84277,"date":"2024-05-20T00:00:00","date_gmt":"2024-05-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/05\/20\/acwa-power-in-final-push-on-shuaa-energy-3-solar-project-in-dubai\/"},"modified":"2024-05-20T00:00:00","modified_gmt":"2024-05-20T00:00:00","slug":"acwa-power-in-final-push-on-shuaa-energy-3-solar-project-in-dubai","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/05\/20\/acwa-power-in-final-push-on-shuaa-energy-3-solar-project-in-dubai\/","title":{"rendered":"Acwa Power in final push on Shuaa Energy 3 solar project in Dubai"},"content":{"rendered":"

Renewables giant Acwa Power has received the commercial operation certificate to <\/strong>begin operating Phase C of the <\/strong>900 MW Shuaa Energy 3<\/a><\/strong> solar project <\/strong>in Dubai \u2014 a part of Mohammed bin Rashid Al Maktoum (MBR) solar park<\/a> in the UAE, it said in a disclosure to Tadawul<\/a> on Thursday.<\/p>\n

Ironing out the details: <\/strong>Commercial operations are set to be launched at the solar project\u2019s Phase C, which will have a capacity of 300 MW, Acwa Power said. The complete plant, which has an investment ticket of USD 570 mn<\/a>, has achieved commercial operation with a total capacity of 900 MW, it said. Acwa Power expects the financial impact of the commercial operations at Phase C to be reflected on its financials in Q3 this year. The MBR solar park, which is the world\u2019s largest single-site solar park using the IPP model, will have a production capacity of 5 GW by 2030 and will help slash 6.5 mn tons of carbon emissions annually upon completion.<\/p>\n

A look at ownership: <\/strong>Shuaa Energy 3 is a special purpose vehicle (SPV)<\/a> set up to develop the fifth phase of the MBR solar park. Dubai state utility Dewa owns a 60% stake and is the sole off-taker of power, while Acwa Power holds a 24% stake. The Gulf Investment Corporation holds the remaining 16%.<\/p>\n

REMEMBER- Dewa + Masdar reached a financial close on Shuaa Energy 4: <\/strong>Dubai Electricity and Water Authority (Dewa) and UAE\u2019s state owned renewables giant Masdar reached a financial close<\/a> on the 1.8 GW sixth phase of the (MBR) Solar Park in February. The total production output will increase to 4.66 GW by 2026 \u2014 up from the previously reported 4.2 GW. Dewa established a JV with Masdar for the plant \u2014 with the former holding 60% of the company, allocating some AED 5.5 bn to establish PV panels under an independent power producer (IPP) model. The project \u2014 which will be constructed by India\u2019s Larsen & Toubro\u2019s (L&T) construction arm \u2014 is expected to kick off operations in phases between 4Q 2024 and 2026.<\/p>\n","protected":false},"excerpt":{"rendered":"

This project has now achieved full commercial operations with total capacity of 900 MW<\/p>\n","protected":false},"author":1,"featured_media":84278,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[171],"tags":[184,154,427,94,42,52],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-84277","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solar","tag-acwa-power","tag-dewa","tag-mohammed-bin-rashid-al-maktoum-solar-park","tag-solar","tag-solar-energy","tag-uae","wpautop","entry"],"acf":{"mongo_id":"688e23f9-a2e8-4e0a-8746-ff7a62a1f26a","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/1400.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Acwa Power in final push on Shuaa Energy 3 solar project in Dubai","related_issue":[84267],"teaser":"This project has now achieved full commercial operations with total capacity of 900 MW","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.0854f6c7-00c1-46fa-a47a-59dadedc26a7.mp3"},"yoast_head":"\nAcwa Power in final push on Shuaa Energy 3 solar project in Dubai - 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