Abu Dhabi’s photovoltaic solar plant, the world’s biggest PV plant, is set to start operating by April 2019, Bloomberg reported, citing Mothana Qteishat , managing director of China’s Jinko Solar Holding Company for project development in the Middle East and North Africa.
The 1.2-gigawatt project in Abu Dhabi is “well on track and on schedule,” he said.
The project is being developed by Jinko Solar and Japan’s Marubeni Corp., with each company holding a 20 percent share, he added.
State-owned Abu Dhabi Water and Electricity Authority received a then record-low bid of 2.42 cents a kilowatt-hour for power from the planned facility.
Prices for solar projects in the Middle East have set successive records with first Dubai and then Abu Dhabi coming in with all-time low power pricing.
Saudi Arabia has received the world’s cheapest offer for supply of solar power. Electricite de France SA and Abu Dhabi’s Masdar made a joint bid to provide electricity for as little as 1.79 cents a kilowatt hour, the Saudi energy ministry said in October.
While nations are investing in solar and wind energy to cut down on pollution from fossil fuels and to take advantage of reduced costs, the Middle East has an added incentive to produce more alternative energy for domestic use and export more crude oil.
Saudi Arabia plans to develop 30 solar and wind projects over the next 10 years as part of a $50 billion program to boost power generation.
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