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S’Arabia: ACWA Power unviels 300 MW first stage of Shuaa Energy 3 PSC

ACWA Power, a leading Saudi developer, investor, and operator of power generation and water desalination plants, announced the official inauguration of the 300 MW first stage of the 900 MW Shuaa Energy 3 PSC, the fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai. The ceremony was held under the patronage of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and in the presence of several notable Dubai government figures, as well as HE Saeed Mohammed Al Tayer, Managing Director & CEO of Dubai Electricity and Water Authority, and Mohammad Abunayyan, ACWA Power’s Chairman.
The inauguration of the project marks another transformative moment in Dubai’s continued energy transition and energy diversification strategies, and its development plans. The 900 MW fifth phase was awarded to an ACWA Power led consortium at a world record tariff of 1.6953-dollar cent per kWh last year and brings the current production capacity of the Mohammed bin Rashid Al Maktoum Solar Park to 1,313 MW.