Abu Dhabi Power Corporation (ADPower) has confirmed plans for a record-breaking new solar farm, confirming that its latest project is set to be both the world’s largest solar development and will deliver power at a record low cost.
ADPower’s subsidiary, Emirates Water and Electricity Company (EWEC), yesterday provided an update on the bids from five consortia looking to develop the 2GW Solar Photovoltaic (PV) Independent Power Producer (IPP) Al Dhafra Solar PV project.
The company said the first-ranked bidder pledged to deliver the world’s most cost-competitive tariff for solar PV energy, set at AED 4.97fils/kWh (1.35USDcents/kWh) on a Levelized Electricity Cost (LEC) basis. The bid is approximately 44 per cent lower than the tariff set three years ago on the Noor Abu Dhabi project – Abu Dhabi’s first large-scale solar PV project, which set its own low cost record at the time.
The new Al Dhafra Solar PV project is expected to boast enough capacity to power approximately 160,000 households across the UAE. It will be almost double the size of the approximately 1.2GW Noor Abu Dhabi solar plant, which has been amongst the largest operational solar PV plants in the world since it started commercial operations in April 2019. Othman Al Ali, chief executive at EWEC, said the new project further underlined the cost competitiveness of renewable energy technologies.
The news came on the same day as influential analyst firm BloombergNEF published its latest report on global renewable energy costs, confirming solar and onshore wind costs continued to fall last year, meaning renewables are now the lowest cost means of providing new generation capacity in regions that are home to over two thirds of the world’s population.
Source: Business Green
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