{"id":4427,"date":"2020-06-15T09:14:55","date_gmt":"2020-06-15T17:14:55","guid":{"rendered":"https:\/\/solarpowerinvestor.com\/?p=4427"},"modified":"2022-06-15T22:35:14","modified_gmt":"2020-06-25T02:03:35","slug":"uae-plans-install-42000mw-clean-energy-including-dubai-solar-park","status":"publish","type":"post","link":"https:\/\/solarpowerinvestor.com\/uae-plans-install-42000mw-clean-energy-including-dubai-solar-park\/","title":{"rendered":"The UAE plans to install 42,000MW of renewable energy by 2050 while Dubai takes the lead with 800MW solar park"},"content":{"rendered":"<p><em>UAE Energy Strategy 2050 sets goals to balance the growing energy demand with environmental responsibility through their renewables plan. This has attracted various investors and banks as there are growing opportunities. Still, Dubai has commissioned a five-part renewables project, currently focused on the 800 MW solar park, giving Dubai 24% of total UAE capacity.<\/em><\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The UAE is pursuing an ambitious renewable energy goal, with Dubai leading by commissioning an 800MW solar park. This is the <a href=\"https:\/\/www.power-technology.com\/comment\/uae-sets-clean-energy-pace\/\">third phase of this clean energy<\/a> plan to install 1,013MW of renewables, which is about 8.65% of the current total capacity. The DEWA also set the world&acirc;&#128;&#153;s lowest price of 2.99 cents per kWh in the third part of this project, which will help the solar plant perform better.&nbsp;<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In 2021 there are expected to be two more phases of this project, each being 1,850MW of capacity. The fourth phase of this project plans to use various types of renewable energy, with 600MW from a parabolic basin complex, 100 MW from a solar tower, and 250MW from PV panels. After this solar power is added, the clean energy share will be approximately 24% of the total UAE capacity.&nbsp;<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:quote -->\n<blockquote class=\"wp-block-quote\"><p>&acirc;&#128;&#156;Not only will phase three of the park offset millions of tonnes of carbon emissions each year and create thousands of local jobs, it is also demonstrating the attractiveness of renewable energy as an investment asset class, paving the way for further clean energy projects in the UAE and the region.&acirc;&#128;&#157; <\/p><cite><em>Khaled Al Qubaisi<\/em>; <em>Chief Executive Officer of the Aerospace, Renewables and ICT platform of <a href=\"https:\/\/www.mubadala.com\/en\">Mubadala Investment Company<\/a><\/em><\/cite><\/blockquote>\n<!-- \/wp:quote -->\n\n<!-- wp:paragraph -->\n<p>The current capacity of the UAE is 11,700 MW. This gives <a href=\"https:\/\/www.dewa.gov.ae\/en\">Dubai Electricity &amp; Water Authority<\/a> the boost to pull ahead of the 2020 clean energy milestone of 7% which was put in place in the UAE. This progress made by Dubai is almost a third of the clean energy target for the Dubai Clean Energy Strategy of 75% within the next thirty years. Right behind Dubai in this race to clean energy is Abu Dhabi with 6.4% of the capital&acirc;&#128;&#153;s installed capacity at the end of 2019.&nbsp;<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:image {\"align\":\"right\",\"width\":576,\"height\":406} -->\n<div class=\"wp-block-image\"><figure class=\"alignright is-resized\"><img decoding=\"async\" src=\"https:\/\/www.dewa.gov.ae\/~\/media\/Images\/News%20And%20Events\/2019\/23-3-2019.ashx?h=479&amp;w=679&amp;la=en&amp;hash=1DB0FD5F819139B49B2D5704426451B9920783FB\" alt=\"News\" width=\"576\" height=\"406\"><figcaption>Source: <a href=\"https:\/\/www.dewa.gov.ae\/en\/about-us\/media-publications\/latest-news\/2019\/03\/mohammed-bin-rashid-al-maktoum-solar-park\">DEWA<\/a><\/figcaption><\/figure><\/div>\n<!-- \/wp:image -->\n\n<!-- wp:paragraph -->\n<p>The <a href=\"https:\/\/www.dewa.gov.ae\/en\/about-us\/media-publications\/latest-news\/2019\/03\/mohammed-bin-rashid-al-maktoum-solar-park\">UAE Energy Strategy 2050<\/a> is a goal they have set to achieve a renewable and clean energy mix and also attain economic and environmental mandates. These guidelines require 42,000MW of clean and renewable energy by 2050 and have attracted various private investors and foreign banks to encourage this. Currently, the DEWA has more than 4,000MW of IPP projects with AED 30 billion in investments. The UAE plans to invest AED 600 billion until 2050 to meet this energy demand in an environmentally friendly manner.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Oil prices are historically low in the UAE and Saudi Arabia as global investment in power generation is set to fall by 10% over the course of this year. There have been no signs that they plan on veering away from this renewables trend. This could be very hopeful for all industrial applications within these locations and investors looking to get involved in renewables in a profitable area. As the oil industry fades out of this area whose economy depends on the income, the renewables will become the major income. Solar in this location is an ideal energy producer and would be a dependable and actionable investment. The government&#8217;s support of this transition also allows for low bid prices and overall cooperation making this process smoother.<\/p>\n<!-- \/wp:paragraph -->","protected":false},"excerpt":{"rendered":"<p>UAE Energy Strategy 2050 sets goals to balance the growing energy demand with environmental responsibility through their renewables plan. This has attracted various investors and banks as there are growing opportunities. Still, Dubai has commissioned a five-part renewables project, currently focused on the 800 MW solar park, giving Dubai 24% of total UAE capacity. The [&hellip;]<\/p>\n","protected":false},"author":1742,"featured_media":4576,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","footnotes":""},"categories":[45,8,2,322],"tags":[516,591,96,518,449,3414],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v18.5 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The UAE plans to install 42,000MW of renewable energy by 2050 while Dubai takes the lead with 800MW solar park - Solar Power Investor<\/title>\n<meta name=\"description\" content=\"As the world moves towards renewable energy, the UAE is no different. They have set a goal of 42,000MW of renewable energy by 2050 and received capital from various investors and banks. 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