2.42 cents/kWh: Record low price for solar power in Abu Dhabi

22.09.2016

The government-owned Abu Dhabi Water & Electricity Authority (Adwea) received a bid of 2.42 $-cents/kWh for solar power from a planned PV plant with at least 350 MW capacity.

The bid came as a joint offer from JinkoSolar Holding Co. based in China and Japan-based Marubeni Corporation. The PV plant is located in Sweihan (also written as “Sweihan”), approximately 100 km east of the capital Abu Dhabi.  Utility Adwea expects to start operations in the first quarter of 2019.

The record bid reflects falling costs for PV technology and cheaper financing options for renewable energy projects. Before the current bid in Abu Dhabi, the world record for the lowest price was at 2.91 cents/kWh, which was set at an auction in Chile in August 2016.

There are still other offers by different bidders, including for example the developer Masdar, being evaluated.

Tanja Peschel

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