The fourth phase of the Dh50 billion ($13.6bn) Mohammed bin Rashid Al Maktoum Solar Park will power 320,000 homes and displace 1.6 million tonnes of carbon emissions a year, the Dubai Media Office said on Saturday. It will also include the world’s largest energy storage capacity of 15 hours, allowing for energy availability 24 hours a day. The 950-megawatt phase comprises the world’s largest concentrated solar power scheme, backed by photovoltaic panels, which collectively drew an investment of Dh15.78bn and is being built on an independent power producer model. The fourth phase, which is being executed by a consortium led by Dubai Electricity and Water Authority and Saudi Arabia’s Acwa Power, will use three hybrid technologies to produce clean energy: a 600MW parabolic basin complex, which is made up of three 200MW units each, a 100MW solar power tower that is based on molten technology and a 250MW array of solar panels. Dubai aims to generate 25 per cent of its energy needs from renewable sources by 2030 and 75 per cent by 2050 as part of its clean energy drive. State-utility Dewa is building the world’s largest solar energy park to reduce its reliance on natural gas and diversify its power sources. The Mohammed bin Rashid Solar Park is expected to generate 5,000MW of electricity by 2030. The fifth phase of the project is currently being implemented through Shuaa Energy 3, a firm in which Dewa holds a 60 per cent stake, with the remainder held by a consortium including Acwa Power and Gulf Investment Corporation.