Abu Dhabi-based Emirates Water and Electricity Company (Ewec) awarded the 1.5 GW Khazna Solar PV Independent Power Project to France’s Engie and Masdar, which will act as a local shareholder, according to a press release. The project is expected to reach financial close by the end of 4Q 2025 and become operational by 2026 or 2027.

Ewec signed a power purchase agreement with the consortium, structured as an energy purchase agreement, under which Ewec will pay only for the net power generated by the plant. Engie and Masdar will be responsible for designing, financing, building, and operating the facility.

Advanced tech on the table: The project will deploy IoT-enabled sensors, cloud-based monitoring, big data analytics, and robotic cleaning systems to optimize output and reduce maintenance costs.

Engie’s consortium offered the lowest levelized cost of electricity bid for the project at USD 0.0149/kWh, some 3% lower than China’s Jinko Power and Japan’s Jera’s USD 0.0151/kWh, according to Meed. Korea Western Power (Kowepco) and EDF’s bid was the highest at USD 0.0159/kWh.

REMEMBER- Ewec received three proposals to set up the 1.5 GW IPP in October last year and signed a joint development agreement with Kowepco and EDF Renewables last March.

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