{"id":86282,"date":"2024-05-19T00:00:00","date_gmt":"2024-05-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/05\/19\/acwa-power-in-final-push-on-shuaa-energy-3-solar-project-in-dubai\/"},"modified":"2024-05-19T00:00:00","modified_gmt":"2024-05-19T00:00:00","slug":"acwa-power-in-final-push-on-shuaa-energy-3-solar-project-in-dubai","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/05\/19\/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>.<\/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 aninvestment 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

Acwa continues to be busy this year: <\/strong>The Tadawul-listed utility signed earlier this month<\/a> a SAR 18.2 bn (c. USD 4.9 bn) power purchase agreement to develop a new 5 GW wind farm in Uzbekistan \u2014 set to become the largest in Central Asia. It signed a water purchase agreement for Senegal\u2019s first desalination project<\/a> under a public-private partnership and a power purchase agreement for Uzbekistan\u2019s Nukus2<\/a> 200 MW wind farm and battery energy storage system. Acwa Power also received<\/a> the commercial operation certificate to begin operating the third and final phase of its 1.5 GW Sudair solar project. It also received a similar certificate<\/a> for its Al Taweelah desalination plant in Abu Dhabi. It also achieved financial close<\/a> for the solar-powered Hassyan water desalination project in Dubai.<\/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":86283,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","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":[2573],"tags":[448,2029,10,2030,2032,451,2031,2706],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-86282","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-renewables","tag-acwa-power","tag-dubai-electricity-and-water-authority-dewa","tag-enterpriseam-ksa","tag-gulf-investment-corporation-gic","tag-mohammed-bin-rashin-al-maktoum-mbr-solar-park","tag-renewables","tag-shuaa-energy-3","tag-solar","wpautop","entry"],"acf":{"mongo_id":"7a24d643-40b5-4974-ba8d-1b568e144891","order":"5","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 secures operation permit for Shuaa Energy 3 solar project in Dubai","related_issue":[86273],"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\/.912c3e5b-d275-494f-a7b1-d75e59a22955.mp3"},"yoast_head":"\nAcwa Power in final push on Shuaa Energy 3 solar project in Dubai - 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