Construction of the fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai has commenced, with the completion of the first 128 pillars of the scheme’s main tower, project owner Dubai Electricity and Water Authority (Dewa) said on Saturday.
The Dh50 billion energy scheme is projected to reach a total capacity of 5,000 megawatts (MW) by 2030, accelerating Dubai’s efforts to shift towards use of clean and renewable energy, Dewa said.
The UAE plans to meet 7 per cent of its power needs from solar over the period between now and 2020.
The fourth phase of the park is being developed by Noor Energy 1, a partnership between Dewa, Saudi Arabia’s Acwa Power and China’s Silk Road Fund. It is the world’s largest single-site investment project in Concentrated Solar Power (CSP) technology, which generates energy from the sun by using mirrors and lenses spread over large areas. The technique is receiving considerable uptake in the region due to its lower costs.
It will also have the world’s tallest solar tower, at 260 metres, and the largest thermal energy storage capacity in the world of 15 hours, enabling round-the-clock energy generation, Saeed Al Tayer, managing director and chief executive of Dewa, said in a statement to media.
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The scheme also achieved the lowest electricity generation cost in the world, of 2.4 US cents per kilowatt hour for the 250MW panels and 7.3 cents per kW/h for the 700MW CSP technology.
The total capacity of the fourth phase of the solar park rose from 700MW to 950MW with investments for this phase reaching Dh16bn, Mr Al Tayer added.
In May, the solar park opened the first part of its phase three – which is being built by Abu Dhabi’s Masdar and France’s EDF Group and targeted for completion by 2020.
At the time, Mr Al Tayer said a 300MW CSP plant would be tendered before the first quarter of 2019, exceeding the scheme’s targeted installed capacity of 1,000MW by 2020.
The First Monday in May
Director: Andrew Rossi
Starring: Anna Wintour, Karl Lagerfeld, John Paul Gaultier, Rihanna
Three stars
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
TO A LAND UNKNOWN
Director: Mahdi Fleifel
Starring: Mahmoud Bakri, Aram Sabbah, Mohammad Alsurafa
Rating: 4.5/5
Company profile
Name: Steppi
Founders: Joe Franklin and Milos Savic
Launched: February 2020
Size: 10,000 users by the end of July and a goal of 200,000 users by the end of the year
Employees: Five
Based: Jumeirah Lakes Towers, Dubai
Financing stage: Two seed rounds – the first sourced from angel investors and the founders' personal savings
Second round raised Dh720,000 from silent investors in June this year
Race%20card
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'Gehraiyaan'
Director:Shakun Batra
Stars:Deepika Padukone, Siddhant Chaturvedi, Ananya Panday, Dhairya Karwa
Rating: 4/5
A timeline of the Historical Dictionary of the Arabic Language
- 2018: Formal work begins
- November 2021: First 17 volumes launched
- November 2022: Additional 19 volumes released
- October 2023: Another 31 volumes released
- November 2024: All 127 volumes completed
Company%20Profile
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Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
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- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
UAE currency: the story behind the money in your pockets
SPECS
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Nayanthara: Beyond The Fairy Tale
Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni
Director: Amith Krishnan
Rating: 3.5/5
UAE currency: the story behind the money in your pockets
Business Insights
- Canada and Mexico are significant energy suppliers to the US, providing the majority of oil and natural gas imports
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The%20Genius%20of%20Their%20Age
%3Cp%3EAuthor%3A%20S%20Frederick%20Starr%3Cbr%3EPublisher%3A%20Oxford%20University%20Press%3Cbr%3EPages%3A%20290%3Cbr%3EAvailable%3A%20January%2024%3C%2Fp%3E%0A