Investorideas.com


Investorideas podcasts on iTunes, Google Play Music and iHeart.com    Investorideas.com potcasts - cannabis news and stocks to watch plus insight from thought leaders and experts    Investorideas.com crypto corner    Play by Play – the latest sports headlines and sports stock news    420 Cannabis Investor Ideas Call us 800 665 0411

 

Join our smart investors - Get the best stock directories in  blockchain, cannabis, crypto, AI, IoT, cleantech. Daily podcasts in cannabis and crpto. Just $99  a year

Renewable Energy News: Dubai breaks ground on world's biggest CSP project

 

LONDON - April 11, 2018 (Investorideas.com Newswire) His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has broken ground in the fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park, the biggest Concentrated Solar Power (CSP) investment project in the world.

Based on the Independent Power Producer (IPP) model, the site will have the world's tallest solar tower at 260 metres, as well as the largest thermal energy storage capacity on the planet. The AED14.2bn project will generate 700MW annually, providing clean energy to 270,000 homes, while also reducing 1.4 million tonnes of carbon emissions every year.

The project will use two technologies, a 600MW parabolic basin complex and a 100MW solar tower, and covers 43 square kilometres. The plant also provides the world's lowest Levelised Cost of Electricity (LCOE) of $7.3 cents per kW/h.

His Highness Sheikh Mohammed bin Rashid Al Maktoum stated that developing the UAE's infrastructure is a top priority, and vital to raising the country's global competitiveness.

HE Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA) is also focusing on clean and renewable energy projects to enhance the quality of life for future generations in an economy that doesn't rely on oil. The solar park is a crucial step in the Dubai Clean Energy Strategy 2050, which aims at generating 75 percent of Dubai's total power output with clean energy by 2050.

Mohammad Abu Nayyan, Chairman of ACWA Power, said: "We are proud of our role in obtaining the lowest price globally for the second phase of the solar park. Today we are driving price reduction for CSP projects globally, achieving more than just one unprecedented world record, by constructing the world's tallest solar tower and providing the highest storage capacity.”

Cao Min, President of Shanghai Electric, added: β€œOn behalf of Shanghai Electric, I would like to express warm congratulations on the groundbreaking of this project, which is by far the largest and most advanced CSP project co-developed by DEWA and ACWA Power and implemented by Shanghai Electric as EPC contractor.”

For more about DEWA's sustainability efforts, check out an exclusive supplement to the latest edition of World Finance, available online, on tablet and in print now.

https://www.worldfinance.com/

World News Media is a leading publisher of quality financial and business magazines, which enjoys a global distribution network that includes subscriber lists of prominent decision-makers around the world.

CONTACT INFORMATION

World News Media
Elizabeth Matsangou
Editorial Department
+44 (0) 20 7553 4162
elizabeth.matsangou@wnmedia.com


RenewableEnergyStocks.com: investing ideas in renewable energy stocks

Like Renewable Energy Stocks? View our Renewable Energy Stocks Directory

Get News Alerts on Renewable Energy Stocks



More Info:

Investorideas.com Newswire

This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders


Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release on the Investorideas.com newswire https://www.investorideas.com/News-Upload/

Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: https://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.

Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp