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ACWA& Shanghai electric co., LTD., completed the financing of the dubai 700MW thermal power plant at the beginning of the year, which is scheduled to be completed by 2020.
Apr 15, 2018

Dubai's 700MW photovoltaic power plant will become the world's largest Solar thermal power project, with the fourth phase of dubai's SheikhMohammed bin Rashid al-maktoum Solar Park (MBR). The project is made up of three 200MW trough-type power stations and 1 100MW tower power station, totaling 700MW. According to CSP Focus, the project announced in September that the Chinese bid was for Saudi Arabia's ACWA electric power and the Shanghai electric consortium, with a total investment of 14.2 billion diram, or about 25.3 billion yuan.

On December 10, 2017 ACWA power CEO Paddy Padmanathan officially announced that the current financing of the dubai 700 mw thermal power generation project work has entered the final stage, all the work is expected to be completed in the first quarter of 2018, then the project can start construction, and is expected to be completed in 4 quarter of 2020. The government agency responsible for bidding for the project is the Dubai Electricity & WaterAuthority (DEWA), which has a bid of 7.3 cents per kWh, or 0.48 yuan /kWh, for the Electricity price of the ACWA and Shanghai electric group.

In addition to this project, ACWA also participated in the investment and development of Noor1&2&3 photothermal power plant group (total 510MW) in Morocco, 50MW Bokpoort in South Africa and 100MW tower Redstone photothermal power station. It has become a pioneer in the field of solar thermal power generation, continuously promoting the commercialization of advanced technology in the industry and participating in the construction of multiple thermal power plants.

For solar-thermal power generation market in China, ACWA says it has multiple vendors have had contact with China, such as thermal collectors, heat conduction oil, such as molten salt producers, although solar-thermal power generation enterprises in China is relatively lack of practical experience of supply, but ACWA very confident with Chinese suppliers. China has a very large market potential, and we hope to have the opportunity to cooperate. In addition, ACWA representatives will attend next year in late march was held in Beijing in the CSP Focus solar-thermal power China is focused on the general assembly, in combination with ACWA solar-thermal power station development experience of abroad to the delegates to share industrial development situation, the purchasing standards, how to "go out" made in China.

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