Marubeni signs PPA for 1.18GW Sweihan solar plant in UAE
Marubeni and JinkoSolar have signed a power purchase agreement (PPA) with Abu Dhabi Water and Electricity Company (ADWEC) for the 1.18GW photovoltaic power plant to be built near the town of Sweihan in Abu Dhabi, United Arab Emirates (UAE).
For the construction of the PV plant, a special purpose company has been created by Marubeni (20%), JinkoSolar (20%) and Abu Dhabi Water and Electricity Authority (ADWEA) (60%).
The special purpose company will be construct, own, operate and maintain the PV plant and will sell the power to ADWEC for 25 years under the PPA. ADWEC is a wholly owned subsidiary of government entity, ADWEA.
The PV plant’s construction is expected to be completed by April, 2019 and the funding is expected to come from international project finance leaders.
In February, MEED reported that ADWEA was readying to award contract to the consortium led by Marubeni and Jinko Solar to develop a plant of between 930MW and 1.1GW.The Sweihan photovoltaic project is part of UAE’s target to produce 50% of its power from clean sources by 2050, out of which 44% of energy will be generated from renewable sources.
Currently, the Japanese conglomerate Marubeni owns and operates four thermal independent power and water projects in UAE: Taweelah B IWPP, Fujairah F2 IWPP, Taweelah A2 IWPP and Shuweihat S2 IWPP. Sweihan solar plant will be its fifth asset in the country.
Image: Marubeni, JinkoSolar sign PPA with ADWEC to supply power from the largest solar power plant in the world. Photo: Courtesy of franky242/FreeDigitalPhotos.net.