Abu Dhabi solar power project attracts lowest bid
ABU DHABI, Sep 21: Abu Dhabi has received six bids to build a 350-megawatt solar plant in the emirate, one of which was cited by the Abu Dhabi Water and Electricity Authority (ADWEA) as equating to the lowest cost for solar power generation by a commercial project.
The proposed Sweihan plant east of Abu Dhabi is part of efforts by the oil-rich capital of the United Arab Emirates to diversify its energy base into renewables as it seeks to generate 7 per cent of its power from green methods by 2020.
Of the six Sweihan bids, the lowest equated to 2.42 US cents per kilowatt-hour (kWh), state-owned ADWEA said in a statement carried by official news agency WAM.
"It represents one of the most competitive prices seen to date in the global solar photovoltaic industry," the statement said.
The bidding companies were not named.
The cost of generating solar power has been falling as the cost of the technology improves, while Middle Eastern nations have sought to drive down the price they pay for solar projects to take advantage of the region's year-round sunshine. —Reuters