Dewa seeks advisers for $27bn clean energy fund

31 January 2016

Dubai Green Fund aims to provide low-cost loans for green energy sector

Dubai Electricity & Water Authority (Dewa) has invited consultancies to pitch for advisory and regulatory development services mandates for the emirate’s planned AED100bn ($27bn) clean energy fund.

The Dubai Green Fund, announced in November 2015, is mandated to provide low-cost loans for investors in Dubai’s clean energy sector as part of the emirate’s energy investment programme. Dewa, the state-controlled utility provider, will accept tenders from consultancies until 28 February.

Dubai wants to generate 7 per cent of its energy from lower-emissions sources by 2020, raising it to 25 per cent in 2030 and 75 per cent in 2050. Energy sources will include natural gas, solar, clean coal and nuclear. The UAE plans to start up its first nuclear plant in 2017.

The Sheikh Mohammed bin Rashid al-Maktoum solar park will form a central part of this plan.

MEED recently reported that Dewa had issued a request for proposals (RFPs) to prequalified bidders for its planned 800MW solar independent power project (IPP).

The utility has invited developers to submit bids by 28 March for the IPP, which will comprise the third phase of the Mohammed bin Rashid al-Maktoum solar park.

The scheme will be developed in three phases, with bidders having been invited to submit proposals for part or all of the 800MW capacity.

The first phase, phase A, will have a capacity of 200MW, and is planned to be commissioned by April 2018. The second phase, phase B, will have a capacity of 300MW, which will be commissioned by April 2019. The third phase, phase C, will have a capacity of 300MW, and will be commissioned by April 2020.

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