Dubai Awards Stage Two of Solar Photovoltaic Project

Dubai solar power pv

The Dubai Electricity and Water Authority (DEWA) has awarded the advisory mandates for the second stage of its Mohammed Bin Rashid Al Maktoum solar photovoltaic power project. KPMG will be financial adviser to the grantor, while Norton Rose Fulbright will be legal adviser and Lahmeyer International technical adviser.

The project entails the construction of a 100MW solar PV plant 50km south of the city of Dubai in an area called Saih al Dahal. DEWA will retain a 51 per cent controlling stake in the plant, with the winner of a competitive tender process to own the remaining 49 per cent.

The tender process is due to launch in June 2014, and bidding will close in August, with the grantor confirming the winner at the beginning of 2015. The advisory group will help DEWA create the financial and legal model for the project. The plant is expected to begin operations in 2017.

Source: Click Here

About admin