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Dubai will invest $8 billion in solar energy

Staff writer |
Dubai Electricity and Water Authority (Dewa) will invest $8.16 billion at Sheikh Mohammed Bin Rashid Al Maktoum Solar Park.

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The plan is to increase the energy power generating capacity from 13 megawatts (MW) currently produced to 3,000 megawatts until 2030.

"The Solar Park is one of the biggest renewable energy projects in the region, with a capacity planning of one thousand megawatts until 2019 at a cost of 12 billion dirhams ($3.26 billion), and when this stage is finished, until 2030 its capacity will expanded to 3,000 megawatts with a cost of 30 billion dirhams ($8.16 billion)”, said Saeed Al Tayer, Dewa's CEO.

According to the Dubai Integrated Energy Strategy 20130, solar power will account for 7% of the total power production of the Emirate in 2020, and for 15% in 2030.

Tayer also announced the opening of a Centre for Research and Development for innovation projects with a budget of $40.83 million. The centre will work in projects concerning solar power, renewable energy, energy efficiency, water desalinization through solar energy and intelligent networks.

According to Walid Salman, Dewa's executive vice-president of strategy and business development, the agency committed $1.9 billion for the implementation of a smart network to increase energy efficiency in the Emirate.

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