{"id":88148,"date":"2024-11-21T00:00:00","date_gmt":"2024-11-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/11\/21\/masdar-kowepo-edf-consortium-break-ground-on-al-ajban-solar-farm\/"},"modified":"2024-11-21T00:00:00","modified_gmt":"2024-11-21T00:00:00","slug":"masdar-kowepo-edf-consortium-break-ground-on-al-ajban-solar-farm","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/11\/21\/masdar-kowepo-edf-consortium-break-ground-on-al-ajban-solar-farm\/","title":{"rendered":"Masdar-Kowepo-EDF consortium break ground on Al Ajban solar farm"},"content":{"rendered":"

<\/strong>Masdar, Korea Western Power (Kowepo), and EDF have broken ground on the <\/strong>1.5 GW Al<\/a><\/strong>Ajban solar PV IPP plant<\/a><\/strong> in Abu Dhabi<\/strong>, Business Korea<\/a> reports. The project is set to be operational in 3Q 2026.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

REMEMBER-<\/strong> The consortium inked a 30 year Power Purchase Agreement<\/a> with the Emirates Water and Electricity Company (Ewec) in April to design, finance, build and operate the plant. EDF Renewables and Kowepo will hold a 20% stake each and Masdar will hold the remaining 60% stake, the statement notes. Ewec will offtake all the renewable energy generated.<\/p>\n

The consortium reached a financial close for the project in September <\/strong>after securing funding from six major financial institutions, including BNP Paribas, Credit Agricole CIB, Standard Chartered Bank, HSBC Middle East, Sumitomo Mitsui Banking Corporation, and the Export-Import Bank of Korea (Korea Eximbank).<\/p>\n

About the plant: <\/strong>The plant \u2014 the third utility\u2013scale solar park in Abu Dhabi \u2014 is set to be home to three of the world's largest solar sites when it becomes operational. The plant will deploy approximately 3 mn solar panels mounted on single-axis trackers and power nearly 160k homes across the UAE. The plant is expected to slash Abu Dhabi\u2019s CO2 emissions by over 2.4 mn tons annually, the statement adds.<\/p>\n

Not the consortium\u2019s first regional project: <\/strong>EDF and Kowepco are also currently developing Oman\u2019s 500 MW Manah solar project<\/a>. The plant will deploy around 1 mn bifacial PV modules and provide clean energy for approximately 50k homes while offsetting 780k tons of CO2 annually.<\/p>\n","protected":false},"excerpt":{"rendered":"

The project is set to be operational in 3Q 2026<\/p>\n","protected":false},"author":1,"featured_media":88149,"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":[11,160,94,42,52],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88148","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solar","tag-enterpriseclimate","tag-masdar","tag-solar","tag-solar-energy","tag-uae","wpautop","entry"],"acf":{"mongo_id":"499601fe-117e-440a-9f14-b38c1e76064a","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/2078.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Masdar-Kowepo-EDF consortium break ground on Al Ajban solar farm","related_issue":[88141],"teaser":"The project is set to be operational in 3Q 2026","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.cac393f0-7cc7-4eb8-b9ee-91fb273b6911.mp3"},"yoast_head":"\nMasdar-Kowepo-EDF consortium break ground on Al Ajban solar farm - 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