Abu Dhabi, United
Arab Emirates; March 22, 2017 - EDF Group, via its subsidiary
EDF Energies Nouvelles, a market leader in renewable energy
electricity, has joined the Masdar-led consortium developing the
800-megawatt (MW) third phase of the Mohammed bin Rashid Al Maktoum
Solar Park in Dubai.
The agreement formalising the
company's entry into the consortium was signed today by
Jean-Bernard Levy, Chairman and CEO of EDF Group, and Mohamed
Jameel Al Ramahi, CEO of Masdar, Abu Dhabi Future Energy
Company.
His Excellency Saeed Mohammed Al
Tayer, MD & CEO of Dubai Electricity and Water Authority
(DEWA), His Excellency Michel Miraillet, Ambassador of France to
the UAE, and Antoine Cahuzac, Group Senior Executive Vice President
for Renewable Energies at EDF Group and Chief Executive Officer
(CEO) of EDF Energies Nouvelles, witnessed the signing at DEWA's
headquarters.
The 16 square-kilometre 800
photovoltaic plant will be delivered in three stages. The 200 MW
"Phase A" is currently under construction, and is due for
completion by April next year. The 300 MW "Phase B" is expected to
come on stream in April 2019, while the final 300 MW tranche,
"Phase C", is scheduled for April 2020.
The project was awarded last year
at a price of 2.99 US cents per kilowatt-hour, a then record-low
tariff for solar power generation.
The Mohammed bin Rashid Al Maktoum
solar park, the largest single-site solar park in the world, has a
planned capacity of 5,000 megawatts (MW) by 2030, and a total
investment of USD14 billion (AED50 billion). It will displace as
much as 6.5 million tonnes of carbon dioxide annually upon
completion in 2030.
"We are happy to
see more international companies such as EDF joining the Masdar-led
consortium for the 800 megawatt (MW) third phase of the Mohammed
bin Rashid Al Maktoum solar park, which will be constructed based
on the IPP model to achieve sustainable development .The Solar Park
has attracted the interest of global business and energy companies,
which reflects the trust and interest from international investors
in large projects adopted by Dubai Government, encouraged by the
favourable existing regulatory and legislative frameworks in Dubai
that enable public-private partnerships. HH Sheikh Mohammed
bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and
Ruler of Dubai, has inaugurated the 200 megawatt (MW) second phase
of the Solar Park which is now operational. The project reflects a
new era in the excellence and leadership of the UAE, as it
increases the share of clean and renewable energy. We are working
to achieve the Dubai Clean Energy Strategy 2050 to provide 7% of
Dubai's total power output from clean energy sources by 2020, 25%
by 2030, and 75% by 2050," said HE Saeed Mohammed Al Tayer, MD
& CEO of Dubai Electricity and Water Authority (DEWA).
"With
construction of phase three now well under way, we are proud to
bring EDF Group into the consortium realising what will be the
largest solar power plant in the world on completion, and to
benefit from EDF Energies Nouvelles' extensive international
experience in renewable energy deployment, particularly in emerging
markets," said Mohamed Jameel Al Ramahi, CEO of Masdar, Abu
Dhabi Future Energy Company.
"We are
very proud to be supporting the energy transition in the Middle
East, thanks to ambitious projects involving renewable energy, like
DEWA III. They demonstrate our know-how as market leader in
low-carbon growth and reinforce the Group's development in
fast-growing countries, within the context of our Cap 2030
strategy," declared Jean-Bernard Lévy, the EDF Group's CEO and
Chairman.
"The Middle East
is a strategic area for EDF Group which has strong ambitions for
renewable energies. EDF Group, through EDF Energies Nouvelles'
teams, is pleased to participate in one of the world's largest
solar initiatives launched by DEWA. This 800 MW solar project
realized alongside with Masdar, a key player in renewables, seals a
major long-term partnership," said Antoine Cahuzac, EDF Group
Executive Vice President in charge of Renewable Energies and CEO of
EDF Energies Nouvelles.
About Masdar
Masdar is Abu Dhabi's renewable energy company which works to
advance the development, commercialisation and deployment of clean
energy technologies and solutions. The company serves as a link
between today's fossil fuel economy and the energy economy of the
future. Wholly owned by the Mubadala Development Company PJSC, the
strategic investment company of the Government of Abu Dhabi, Masdar
is dedicated to the United Arab Emirates' long-term vision for the
future of energy and water.
About
EDF
A key player in energy transition, the EDF Group is an integrated
electricity company, active in all areas of the business:
generation, transmission, distribution, energy supply and trading,
energy services. A global leader in low-carbon energies, the Group
has developed a diversified generation mix based on nuclear power,
hydropower, new renewable energies and thermal energy. The Group is
involved in supplying energy and services to approximately 37.1
million customers, of which 26.2 million in France. The Group
generated consolidated sales of €71 billion in 2016. EDF is listed
on the Paris Stock Exchange.
About EDF
Energies Nouvelles
EDF Energies Nouvelles is a market leader in renewable energy
electricity, with a portfolio of more than 9,5 GW gross installed
capacity focused for the most part on wind (onshore and offshore)
and solar photovoltaic energy. Mostly operating in Europe and North
America, EDF Energies Nouvelles continues its development by taking
strong positions in promising emerging areas such as Brazil, Chile,
China, India or South Africa. The Company is also present in other
segments of the renewable energy market: marine energy, biomass and
distributed energies. EDF Energies Nouvelles manages renewable
energy projects' development and construction as well as operation
and maintenance for its own account and for third parties. EDF
Energies Nouvelles is a subsidiary of the EDF Group dedicated to
renewable energy.
Visit us at www.edf-energies-nouvelles.com and follow us on
https://www.linkedin.com/company/edf-energies-nouvelles and on
Twitter @EDFEN_officiel
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Source: EDF via Globenewswire