Dubai Electricity and Water Authority (DEWA) gave the greenlight to our friends at Acwa power to begin commercial operations at the final unit of the 2.4 GW Hassyan IPP project, the Saudi renewable energy firm said in a disclosure to Tadawul yesterday.

Fully operational: The last 600 MW power unit joins three others of the same size already in operation. The financial impact of this final phase will be evident from 4Q 2023 onwards, Acwa Power added.

About the plant: Built with a USD 3.2 bn investment, the Hassyan power plant in Dubai is set to be one of the largest in the GCC, with four highly advanced plants, according to Acwa’s website. The project was originally supposed to run on coal but was switched to natural gas to align with Dubai’s 2050 clean energy strategy. The power plant is expected to reduce annual carbon emissions by some 30 mn tons by 2030.

Who owns what? DEWA owns 51% of the facility, while Acwa owns 26.95%, with the remaining shares divided between Chinese companies Harben Electric Int. (HEI) and Silk Road Fund.

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