Dubai awards con­tract for fi­nal phase of so­lar park

Arab News - - BUSINESS -

DUBAI: Dubai on Saturday an­nounced the award of a $3.8 bil­lion con­tract for the fi­nal phase of a so­lar park aimed at gen­er­at­ing 5,000 megawatts of elec­tric­ity by 2030.

The govern­ment of the emi­rate said the con­tract for the fourth and fi­nal phase went to Chi­nese con­glom­er­ate Shang­hai Elec­tric and ACWA Power of Saudi Ara­bia.

The so­lar park named af­ter Dubai’s ruler, went on­line in 2013 and the fi­nal phase is to be launched in stages from 2020, bring­ing the over­all cost to $13.6 bil­lion.

Dubai, which has dwin­dling oil re­serves un­like Abu Dhabi, has set a tar­get of 2050 to pro­duce 75 per­cent of its elec­tric­ity needs from re­new­able en­ergy sources.

Abu Dhabi is build­ing four nu­clear power re­ac­tors, each with a 1,400-megawatt ca­pac­ity, the first of which is sched­uled to launch op­er­a­tions in 2018. The over­all costs are put at more than $25 bil­lion.

The UAE has an­nounced it plans to in­vest a to­tal of $163 bil­lion in projects aimed at sup­ply­ing the coun­try with al­most half of its en­ergy needs from re­new­able sources.

France and other European states are push­ing for a new way of taxing on­line giants such as Google on the ba­sis of their turnover, rather than their prof­its. (AFP)

Newspapers in English

Newspapers from Saudi Arabia

© PressReader. All rights reserved.