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United Arab Emirates : Abu Dhabi's 350-MW solar tender expected to attract aggressive bids
Publish Date : 05-May-2016
Abu Dhabis auction for a 350-MW solar power project in the emirate would likely attract bids as competitive as those in Dubai. On Sunday, it was announced that Dubais tender for the right to develop a portion of the 800-MW phase III of the Mohammed bin Rashid Al Maktoum solar complex has attracted a bid of only USD 29.9 (EUR 26) per MWh.
During an event in Dubai held on Monday, Francois-Xavier Boul, senior vice president of Engie, said, there was significant interest in the Abu Dhabi project, with plenty of funds available too, so the bidding would be as aggressive as that in Dubai.
Engie is taking part in both tenders. Boul said, in Dubai the competition is for a 200-MW piece of the phase III project, while the tender in Abu Dhabi is for 350 MW, thus offering even greater economies of scale.
Abu Dhabi tender winner will take a 40% stake in the project company that will develop, finance, build and maintain the solar power plant in Sweihan.
The Abu Dhabi Water and Electricity Authority (ADWEA) has prequalified 34 firms to take part in the competition. In Dubai, the USD-29.9/MWh bid marks the lowest level reached by solar tenders so far.
