Masdar, EDF Renewables, and Korean Western Power Company Sign Agreement with EWEC
Emirates Water and Electricity Company (EWEC) announced the award for its 1.5 gigawatt (AC) Al Ajban Solar PV Independent Power Project on Friday.
EWEC said the development of the utility-scale solar power plant was awarded to an international consortium of EDF Renewables and Korea Western Power Company (KOWEPO), with Masdar as the local shareholder. Following the award, the project’s Power Purchase Agreement (PPA) was signed between EWEC and stakeholders at the World Future Energy Summit. EWEC is a company that drives the planning, forecasting, purchase and supply of water and electricity in Abu Dhabi and beyond.
Under the terms of the PPA, the consortium will design, finance, build and operate the plant, which will be located in Al Ajban, 70km northeast of Abu Dhabi.
The project will be commercially operational in Q3 2026, and the project’s financial close is expected by Q3 2024, according to EWEC. Al Ajban Solar PV will make the UAE home to four of the world’s largest single-site solar power plants, with three of them located in the emirate of Abu Dhabi. The project will generate enough electricity to power 160,000 households across the UAE and is expected to reduce Abu Dhabi’s carbon emissions by 2.4 million metric tonnes per year, according to EWEC.
The signing took place in the presence of Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of Masdar and COP28 President, Hamad Al Hammadi, Chairman of EWEC, and Luc Rémont, Chairman and Chief Executive Officer of EDF Group.
The agreement was signed by Othman Al Ali, Chief Executive Officer of EWEC; Mohamed Jameel Al-Ramahi, Masdar Chief Executive Officer; Beatrice Buffon, Vice President in Charge of the International Division and Chief Executive Officer of EDF Renewables; and Park, Hyung Duck, Chief Executive Officer of KOWEPO.
Dr Al Jaber said, “The UAE was the setting for the historic UAE Consensus achieved at COP28, and it is fitting that this latest ambitious solar power project will make our nation home to four of the world’s largest single-site plants. The UAE is leading by example and matching words with actions in the global effort to triple renewable energy capacity by 2030 and keep the ambition of 1.5°C within reach.”
EWEC awarded the Al Ajban Solar PV contract after a comprehensive procurement process. The PPA is structured as an energy purchase agreement whereby EWEC will pay only for the net electrical energy supplied by the plant.
Hamad Al Hammadi, Chairman of EWEC, said, “We take pride in supporting this ambition by procuring renewable technologies and utility-scale solar PV projects, helping to set the pace for global sustainability initiatives and meet the targets set during COP28.”
Meanwhile, Luc Rémont, Chairman and Chief Executive Officer of EDF Group, said, “Together with its partners Masdar and KOWEPO, EDF Group is proud to contribute to the fight against climate change and to actively support Middle Eastern countries to achieve their energy transition by proposing low-carbon solutions, including renewable energies, which is at the heart of EDF’s proposal for carbon neutrality.”
Othman Al Ali, CEO of EWEC, said, “Our focus extends beyond the immediate benefits, and our advanced techno-economic analysis demonstrates the vital role solar power plays in meeting both current and future energy demands of Abu Dhabi and the UAE.”
Mohamed Jameel Al-Ramahi, Masdar’s Chief Executive Officer, said: “This announcement further strengthens Masdar’s long-standing partnership with EWEC, EDF and KOWEPO to advance the deployment of clean energy solutions in the UAE.”
Park, Hyung Duck, Chief Executive Officer of KOWEPO, said, “This collaboration on the Al Ajban Solar PV project reflects our deep commitment and determination to shape a cleaner,more sustainable future for generations.” By 2030, EWEC aims to provide more than 50 per cent of Abu Dhabi’s electricity from renewable and clean energy sources, with its latest forecasts recommending the addition of 1.4GW of new solar PV per year between 2027-2037.
Source: gulfnews