Emirates Water and Electricity Company (EWEC) has issued a Request for Proposals (RFP) to qualified developers and consortiums that have expressed interest in developing the 1,500-megawatt (MW) Abu-Dhabi-based Khazna Solar Photovoltaic (PV) project.
EWEC shared that the RFP is being issued to bidders who passed the qualification process following the Expression of Interest (EOI) stage in September 2023.
Twenty-seven companies and consortiums submitted EOIs, while 19 companies and consortiums qualified for the RFP stage after submitting Statements of Qualification.
The RFP provides detailed requirements and proposed technical parameters for the project to support companies and consortiums in developing their submissions, said EWEC.
The chosen developer or developer consortium will own up to 40 per cent of the entity, while the Abu Dhabi Government will hold the remaining equity indirectly.
The developer will enter into a long-term power purchase agreement (PPA) with EWEC, the single buyer of power, water capacity, and output in the Emirate of Abu Dhabi.
The PPA will be structured as an energy purchase agreement in which EWEC will pay only for the net electrical energy supplied by the plant.
Once fully operational, the project, alongside Noor Abu Dhabi, Al Dhafra Solar PV and Al Ajban Solar PV, will raise the company’s total installed solar PV capacity to 5.5 gigawatts (GW).
The Khazna project alone is set to generate enough electricity for approximately 160,000 homes across the UAE.
Moreover, while the project is expected to reduce CO2 emissions by more than 2.4 million metric tonnes per year, the projects will collectively reduce CO2 emissions by more than 8.2 million metric tonnes per year by 2027, it was shared.
The Khazna Solar PV project will involve the development, financing, construction, operation, maintenance, and ownership of the plant and associated infrastructure.
Responses to the RFP are expected in Q3 2024. Following this, the company will hold a public event to confirm the companies and consortiums that have submitted proposals.