Some of the world’s leading solar power developers have pulled out of the running for Abu Dhabi’s upcoming plant amid expectations that aggressive bidding will push prices to record lows.
Top industry names, including Enel of Italy, Spanish company TSK and Saudi Arabia’s Acwa Power and Abdul Latif Jameel (ALJ), are no longer among the companies vying for the 350 megawatt Sweihan solar project, according to an industry source.
Each of these companies has a track record of aggressive bidding. Acwa and TSK set a new solar benchmark last year in Dubai for the 200MW second phase of the Mohammed bin Rashid Al Maktoum solar park at 5.84 US cents per kilowatt hour.
In April, Enel bid 3.5 cents per kWh in Mexico for 1,000MW of projects only to be topped last week in Dubai.
Abu Dhabi's Masdar and ALJ's FRV won the latest 800MW tender in Dubai at 2.99 cents a kWh – setting a new world record.
A great deal of chatter has surrounded the Sweihan tender issued by the Abu Dhabi Water and Electricity Authority (Adwea) with some saying that the Dubai price will either be replicated or beaten again causing some companies to retreat from the bidding.
Mohammed Atif, the Middle East and Africa regional manager for DNV GL, an energy consultancy, said companies may be exercising caution or simply not placing all eggs in one basket. “A number of the ‘usual suspects’ may be looking to diversify their strategy to maintain a balanced investment portfolio,” Mr Atif said, pointing to the example of partner switches by Masdar.
“What is interesting on the list is that Masdar is partnered with FRV in Dubai but joined with EDF in Abu Dhabi,” Mr Atif said.
ALJ said that its plate was simply full and that is why it would sit this one out. “Abdul Latif Jameel Energy did not proceed with a bid at this time having considered the pre-qualification criteria and in light of the large megawatt projects that we are currently managing around the world,” said Roberto de Diego Arozamena, the chief executive of ALJ Energy. “We continue to be interested in energy projects in the UAE and fully support the renewable energy ambitions of the region.”
Acwa, Enel, TSK and the Abu Dhabi utility’s procurement arm could not be reached for comment.
Gus Schellekens, a partner at the clean energy division of the consultancy EY, said attracting new bidders allows a greater potential for innovation.
“If you have different bidders successful in Abu Dhabi and Dubai, it’s good for the renewable energy programme in the UAE as well as the international market in terms of technology,” he said.
“For the region to be successful in the long term in achieving ambitious targets requires the international markets to be engaged in delivering new projects – not just a couple of successful bidders.”
lgraves@thenational.ae
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1. End poverty in all its forms everywhere
2. End hunger, achieve food security and improved nutrition and promote sustainable agriculture
3. Ensure healthy lives and promote well-being for all at all ages
4. Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all
5. Achieve gender equality and empower all women and girls
6. Ensure availability and sustainable management of water and sanitation for all
7. Ensure access to affordable, reliable, sustainable and modern energy for all
8. Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
9. Build resilient infrastructure, promote inclusive and sustainable industrialisation and foster innovation
10. Reduce inequality within and among countries
11. Make cities and human settlements inclusive, safe, resilient and sustainable
12. Ensure sustainable consumption and production patterns
13. Take urgent action to combat climate change and its effects
14. Conserve and sustainably use the oceans, seas and marine resources for sustainable development
15. Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss
16. Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels
17. Strengthen the means of implementation and revitalise the global partnership for sustainable development
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Shower or bath after being outside.
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If driving, turn your engine off when stationary.
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if you go
The flights Fly Dubai, Air Arabia, Emirates, Etihad, and Royal Jordanian all offer direct, three-and-a-half-hour flights from the UAE to the Jordanian capital Amman. Alternatively, from June Fly Dubai will offer a new direct service from Dubai to Aqaba in the south of the country. See the airlines’ respective sites for varying prices or search on reliable price-comparison site Skyscanner.
The trip
Jamie Lafferty was a guest of the Jordan Tourist Board. For more information on adventure tourism in Jordan see Visit Jordan. A number of new and established tour companies offer the chance to go caving, rock-climbing, canyoning, and mountaineering in Jordan. Prices vary depending on how many activities you want to do and how many days you plan to stay in the country. Among the leaders are Terhaal, who offer a two-day canyoning trip from Dh845 per person. If you really want to push your limits, contact the Stronger Team. For a more trek-focused trip, KE Adventure offers an eight-day trip from Dh5,300 per person.
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Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million