ACWA Power, headquartered in Saudi Arabia, announced that it has received the commercial operation certificate for the third phase (Phase C) of the Shuaa Energy 3 project in Dubai.
The company announced to the Saudi stock exchange that Phase C has increased the project’s capacity by 300 megawatts (MW). At an estimated cost of 50 billion UAE dirhams ($13.65 billion), the Mohammed bin Rashid Al Maktoum Solar Park is the largest single-site solar park in the world. By 2030, its capacity is expected to reach 5,000 MW.
The solar park is expected to reduce carbon emissions by 6.5 million tonnes per year when it is fully constructed.
A clean energy agreement was signed by the Kingdom of Saudi Arabia and the United States of America, in Jeddah on July 15, 2022, the Ministers discussed ways to enhance cooperation between the two countries in various energy fields, including carbon management, clean hydrogen, nuclear energy, electricity and renewables, innovation, energy sector supply chain resilience, and energy efficiency.
The two ministers also addressed the Kingdom’s efforts to tackle climate change through local and regional initiatives based on the Circular Carbon Economy, including the “Saudi Green Initiative” and the “Middle East Green Initiative”.
