Monday, December 15, 2014

Dubai is selling the cheapest solar energy in the world

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The race to provide the market with cheaper solar power energy is being led, at least for now, by the Dubai. This month the Dubai Electricity Water Authority (DEWA) &, the public energy company, announced the sale of solar energy for only €0,05/kWh. This is the lowest price ever per kilowatt hit by solar energy.

The explanation for a price so cheap solar energy can be the past investments made by DEWA. Earlier this year, the company opened a tender for the installation of a solar plant with a capacity of 100 megawatts, which is incorporated in the second phase of the solar Park Mohammed bin Rashid Al Maktoum.

Currently, this park of 40 square kilometers is home to a 23-megawatt solar plant, built in 2013. However, the goal is to reach 1,000 megawatts of capacity in 2017. In order to achieve this objective, the DEWA asked the companies operating in the solar energy sector to submit proposals for a fixed fee over 25 years, referred to the Inhabitat. Of the 24 companies that apesentaram proposals, the winner was the Acwa Power, a Saudi conglomerate, which presented a proposal to sell the energy to the lower price, the €0,05/kWh.

This value means that the solar market in the Middle East is expanding rapidly and competition and this could be the big economic bets of this region of the globe when oil, abundant still here, finish.

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