Project will be developed under an independent power producer (IPP) model
The Ras al-Khaimah Investment & Development Office (IDO) is planning to issue expressions of interest (EOI) for a planned rooftop solar independent power producer (IPP) project before the end of April.
The first phase of the emirates rooftop solar programme will involve 30-50MW of photovoltaic (PV) solar panel systems being fitted to government and private rooftops.
The capacity will be split between 25-30 sites, which will primarily be industrial and commercial buildings. The programme will be developed under a build-own-operate (BOO) or build-own-operate-transfer (BOOT) model.
The client has appointed Indias Synergy Consulting as financial adviser, UKs Eversheds as legal adviser and Netherlands-based DNV as technical adviser.
The client has set a target of issuing request for proposals (RFPs) in May, with an aim of signing project agreements in December. IDO is targeting for the solar scheme to reach financial close in February 2018.
Ras al-Khaimah is following in the steps of neighbouring emirate Dubai, which is undertaking a significant programme to install PV solar systems on rooftops. One of the first rooftop solar installations in Dubai was installed in February 2016, when Emirates airline installed a 1MW PV solar facility on its Emirates Engine Maintenance Centre in Dubai.
The project is part of Dubai Electricity & Water Authoritys (Dewas) Shams solar rooftop programme. The installed system includes 2,990 PV panels, which will produce up to 1MW of power during peak periods.
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