DEWA chief Saeed Mohammed Al Tayer announced completion of Noor Energy 1’s $2.70 billion refinancing, according to WAM’s September 27 report. The project is the fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park.
The 950 MW plant combines concentrated solar and photovoltaic technologies with up to 15 hours of thermal storage. The refinancing concerns the existing project’s financial structure; the amount is not presented as investment in newly added generation capacity.
In an IEA scenario, electricity could cost-effectively supply 33 percent of final energy use by 2035; projected import savings are not realized outcomes.
The utility’s long-term plan projects lower emissions despite rising electricity demand; its solar, battery and reverse-osmosis targets are not completed outcomes.
Emirates News Agency (WAM), citing Emirates Water and Electricity Company (EWEC)4 min read
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