Acwa Power defends pricing as solar ‘becomes cheaper than gas’

A new record-breaking low tariff was agreed in September when Dubai Electricity and Water Authority (DEWA) contracted a Saudi/Chinese consortium of Acwa Power and Shanghai Electric to build the fourth phase of the Mohammed Bin Rashid Al-Maktoum Solar Park in Dubai, United Arab Emirates. The project follows Acwa Power’s spectacular success in winning major renewables contracts – among other work – in Morocco and other markets across the Middle East and North Africa (Mena). It is also interested in doing more south of the Sahara.