Shanghai Electric, ACWA Power receive USD3.9bn from Dubai| MENAFN.COM

Saturday, 10 December 2022 02:59 GMT

Shanghai Electric, ACWA Power receive USD3.9bn from Dubai


(MENAFN) Dubai's state energy granted USD3.9bn contract to run 700MW solar power plant to Shanghai Electric and Saudi Arabia's ACWA Power.

First stage of the project is due to be finished in late 2020, which is a part of Mohammed bin Rashid al-Maktoum huge complex project to generate 1.000MW by 2020 and 5.000MW by 2030.

In addition, the government's goal is to increase the share of clean energy in Dubai's power production to 7 percent by 2020, 25 percent by 2030 and 75 percent by 2050.

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