ADPower corporation announces lowest tariff for solar power in the world. Subsidiary EWEC announced via weblink five bidding consortiaâ€™s technical and commercial bids to finance, construct, operate and maintain the Al Dhafra Solar PV project in #AbuDhabi. pic.twitter.com/DWnEIKOx59
â€” Ù…ÙƒØªØ¨ Ø£Ø¨ÙˆØ¸Ø¨ÙŠ Ø§Ù„Ø¥Ø¹Ù„Ø§Ù…ÙŠ (@admediaoffice) April 28, 2020
With this tweet, the media office of the UAE government has announced that worldâ€™s lowest solar bid was submitted in the 2 GW solar tender that the Emirates Water and Electricity Company (EWEC), a subsidiary of Abu Dhabi Power Corporation (ADPower), launched in July 2019.
The bidder is a consortium formed by French energy group EDF and Chinese module manufacturer JinkoSolar, which offered a price Dh4.97 fils/kWh ($0.0135/kWh), according to sources from the industry. The two companies have not confirmed yet if they submitted the tenderâ€™s lowest bid.
UAE newspaper The National, meanwhile, has revealed that the other offers were submitted by four consortia. In addition to the EDF/Jinko group, one was arranged by Saudi energy giant ACWA, while another one comprised French oil giant Total and Japanese trading company Marubeni; another was formed by French group Engie and International Power; and another included Japanâ€™s Softbank and Italyâ€™s oil and gas provider Eni.
The submitted price of $0.0135/kWh is by around $0.002 lower than the world record offer of QAR0.0571/kWh ($0.0156/kWh) that a consortium formed by French oil giant Total and Japanese conglomerate Marubeni Corp offered in Qatarâ€™s 800 MW tender finalized in late January.
The winning consortium will own up to 40% of a special purpose vehicle created for the project, with the remaining stake owned by the Abu Dhabi Power Corporation (ADPC) and other undisclosed government entities.
Meanwhile, UAE-based portal Tradearabia has reported that the project is scheduled to begin commercial operations in the second quarter of 2022. When implemented, this solar farm will be the largest PV plant in the Middle East.
That title is currently held byÂ the 1.17 GW Sweihan solar park under construction by Indian EPC company Sterling and Wilson. The solar park has entered commercial operation in July 2019.