MBR Solar Park Phase 3
MBR Solar Park Phase 3 - a Solar Independent Power Producer in UAE. Capacity 800 MW. Winning consortium: Masdar + EDF + Gransolar + FRV. LCOE: USD $0.0299/kWh. Status: Operational.
- Country
- UAE
- Procurer
- DEWA
- City / region
- Saih Al-Dahal, Dubai
- Capacity
- 800 MW
- Status
- Operational
- LCOE
- USD $0.0299/kWh
Winning consortium
Masdar + EDF + Gransolar + FRV - equity: DEWA 60% / sponsors 40%
Procurement timeline
- RFP: 2016
- Bid submission: May 2016
- Preferred bidder: Jun 2016
- Commercial close: 2016
- Financial close: 14 Jun 2017
- PCOD: May 2020
Prequalified bidders
- Masdar + Gransolar/FRV
- JinkoSolar-led
- ACWA + First Solar
- Engie/Mitsui/Nebras
Runner-up bidders & tariffs
- Jinko consortium - USD $0.0365/kWh
- ACWA + First Solar - USD $0.0395/kWh
Financing
- Capex: USD 968 M
- Debt: USD 750 M
- Lenders: Natixis, SocGen, MUFG, SMBC, Mizuho, StanChart, FAB
- Tenor: 27-yr soft mini-perm
Technical scope
Process: Bifacial + trackers, polycrystalline
World-record 2.99c/kWh at award - 18% below 2nd-place. Scaled 200->800 MW under same PPA
Notes
Shuaa Energy 2 SPV. EDF joined March 2017 post-award.
EPC contractor: Gransolar + FRV + Sterling & Wilson
Sources
Open the full Solar IPP benchmark →Part of the GulfInfra · GCC Infrastructure Library - a free open-source benchmark of 136 public-private partnership procurements across the GCC. Methodology: how we build this.