The Abu Dhabi National Energy Company (TAQA) announced the completion of a successful financing deal for the Al Dhafra Autonomous Solar PV Plant project, along with its partners Abu Dhabi Future Energy Company, Masdar and E DF Renewables and Ginko Power today.
According to a statement by TAQA in the Abu Dhabi Financial Market, the project is located approximately 35 kilometers from the city of Abu Dhabi and the production capacity of the station will reach 2 gigawatts of electricity that will be supplied to the water company And Emirates Electricity.
and upon its entry into operation, the Al Dhafra Solar PV Power Plant will be the largest independent plant in the world to produce electricity from solar energy within one location, where it will use approximately 4 million solar panels to generate Sufficient electrical power for approximately 160,000 homes throughout the country.
The project will receive funding from seven international banks, and this comes after signing the power purchase agreement last July.
> Earlier this year, the tender for the project resulted in one of the most competitive tariffs for solar energy, at 4.97 UAE fils per kilowatt-hour / 1.35 US cents per Kilowatt hour / and then this tariff improved after the completion of the financing deal to become 4.85 Emirati fils per kilowatt-hour / 1.32 US cents per kilowatt-hour / This is mainly due to the improvement in hedging and financing costs in addition to other improvement efforts.
and will own 40 percent of the Al Dhafra project while the other partners will have Masdar, EDF Renewables and Ginko Power 20 percent each.
The station uses the latest technologies of dual-sided polycrystalline solar panels that will enable it to produce electrical energy more efficiently by capturing solar radiation by the front and back sides of the solar panels.
and upon the stage of full commercial operation, the plant is expected to contribute to reducing carbon dioxide emissions in Abu Dhabi by more than 2.4 million metric tons annually, equivalent to removing approximately 470,000 cars off the road.
said Jassim Hussein Thabet, Group CEO and Managing Director of TAQA - on this occasion -: The completion of the financing deal for the construction of the largest solar power plant in the world marks the beginning of an important stage For this project, for TAQA Group, and for the UAE as a whole, as we continue our efforts towards achieving our high ambitions in the field of clean energy, this achievement also confirms the commercial and operational viability of solar energy projects in the utility sector.
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