MBR Solar Park Phase 5
MBR Solar Park Phase 5 - a Solar Independent Power Producer in UAE. Capacity 900 MW. Winning consortium: ACWA Power + GIC. LCOE: USD $0.0170/kWh. Status: Operational.
- Country
- UAE
- Procurer
- DEWA
- City / region
- Saih Al-Dahal, Dubai
- Capacity
- 900 MW
- Status
- Operational
- LCOE
- USD $0.0170/kWh
Winning consortium
ACWA Power + GIC - equity: DEWA 60% / ACWA 32% / GIC 8%
Procurement timeline
- RFQ: Mar 2019
- RFP: Jun 2019
- Bid submission: 9 Oct 2019
- Preferred bidder: Nov 2019
- Commercial close: Aug 2020
- Financial close: Nov 2020
- PCOD: Jun 2023
Prequalified bidders
9 final bids · 64 EOIs
- ACWA + GIC
- Masdar + EDF + Jinko
- Marubeni
- Engie
- TotalEnergies
- Sembcorp
- Mitsui
- EWP
- Endesa
Runner-up bidders & tariffs
- Masdar + EDF + Jinko - USD $0.0173/kWh
Financing
- Capex: USD 570 M
- Debt: USD 460 M
- Lenders: StanChart, Natixis, Siemens Bank, BoC, KDB, IBK, Warba
- Tenor: 27-yr soft mini-perm
Technical scope
Process: Bifacial + trackers, 5.7M modules
World-record 1.6953c/kWh at Oct 2019 bid - first sub-2c globally
Notes
Shuaa Energy 3 SPV.
EPC contractor: Shanghai Electric + 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.