Abu Dhabi’s main utility group is seeking bids for the company’s first major solar project.
The Abu Dhabi Water and Electricity Authority (Adwea) has announced a tender for a 350-megawatt solar photovoltaic (PV) project to be built in Sweihan, about 120 kilometres east of the capital.
Although the emirate has 110MW of solar power, thanks to Masdar, this would be the first such project carried out by Adwea.
The selected developer would own up to 40 per cent of a special-purpose vehicle, with Adwea taking the remaining equity, according to the tender announcement.
“Adwea did dip a toe in the solar market by co-investing with Masdar in a 2.3MW PV portfolio in Abu Dhabi in 2011,” said Jenny Chase, manager of Solar Insight at Bloomberg New Energy Finance “However, the scale-up to 350MW is probably due to low prices being bid in solar tenders around the region.
“At these prices, building solar seems like a sensible energy diversification strategy and not a painful financial sacrifice.”
The facility, which would produce enough electricity to power more than 50,000 homes, would be structured as an independent power project with a power purchase agreement. Adwea will “pay only for the net electrical energy supplied by the plant”, the tender announcement said.
Adwea was not available for comment.
The expansion into solar could point to the fact that gas is in short supply while the tumbling price of oil squeezes regional budgets, according to Gus Schellekens, a partner at the clean energy division of the consultancy EY.
“The number of countries in the region using gas to support enhanced oil recovery makes less economic sense,” he said.
And economics plays a major role as the oil glut has pushed the price of Brent crude down below US$40 a barrel, forcing many companies – including the national oil firms – to cut costs.
The UAE currently imports and exports liquefied natural gas and shares international gas pipelines with Qatar and Oman.
Abu Dhabi is committed to producing 7 per cent of its total power from renewable energy sources by 2020, and the Sweihan project will be the first under the initiative.
lgraves@thenational.ae
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What is type-1 diabetes
Type 1 diabetes is a genetic and unavoidable condition, rather than the lifestyle-related type 2 diabetes.
It occurs mostly in people under 40 and a result of the pancreas failing to produce enough insulin to regulate blood sugars.
Too much or too little blood sugar can result in an attack where sufferers lose consciousness in serious cases.
Being overweight or obese increases the chances of developing the more common type 2 diabetes.
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UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Greatest of All Time
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Director: Tim Burton
Rating: 3/5
MATCH INFO
Champions League last 16, first leg
Tottenham v RB Leipzig, Wednesday, midnight (UAE)
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Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
Bookshops: A Reader's History by Jorge Carrión (translated from the Spanish by Peter Bush),
Biblioasis
What is graphene?
Graphene is extracted from graphite and is made up of pure carbon.
It is 200 times more resistant than steel and five times lighter than aluminum.
It conducts electricity better than any other material at room temperature.
It is thought that graphene could boost the useful life of batteries by 10 per cent.
Graphene can also detect cancer cells in the early stages of the disease.
The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.
COMPANY PROFILE
Company name: Blah
Started: 2018
Founder: Aliyah Al Abbar and Hend Al Marri
Based: Dubai
Industry: Technology and talent management
Initial investment: Dh20,000
Investors: Self-funded
Total customers: 40
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SPECS
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The Bio
Favourite place in UAE: Al Rams pearling village
What one book should everyone read: Any book written before electricity was invented. When a writer willingly worked under candlelight, you know he/she had a real passion for their craft
Your favourite type of pearl: All of them. No pearl looks the same and each carries its own unique characteristics, like humans
Best time to swim in the sea: When there is enough light to see beneath the surface
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Director: Sree Narayan Singh
Cast: Shahid Kapoor, Shraddha Kapoor, Divyenndu Sharma, Yami Gautam
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