EDF Renewables, Masdar, and Korea Western Power have recently achieved the financing of the Al Ajban Solar Project with the capacity of 1,500 MW in Abu Dhabi. This project is one of the large scale projects and on its completion it will be among the largest solar power plants in a single site.
EDF Renewables and KOWEPO each holds 20% stake in the consortium while Masdar is the local partner that holds 60% stake. These included the signing of a 30-year power purchase agreement (PPA) with the Emirates Water and Electricity Company (EWEC). The annex contain the details of the solar power plant that entail the design, financing, construction, and management of the plant.
Major banks that contributed the financial support for the project included BNP Paribas, Credit Agricole CIB, Standard Chartered Bank, HSBC Middle East, SMBC and KEXIM. The solar plant will be develop about 70 km from the east of Abu Dhabi.
EDF Project Impact and Vision
Upon its completion of the third quarter of 2026, the Al Ajban Solar PV Independent Power Project (IPP) shall use nearly three million solar panels that are enclosed in single axis trackers. It will also go a long way into achieving the UAE’s renewable energy objectives.
In his turn, Othman Al Ali, the chief executive officer of EWEC, stressed the significance of the project saying, “Al Ajban Solar PV is another evidence of EWEC’s continuous progress in developing of the best in class solar energy solutions for the UAE and beyond. Solar power remains one of the most affordable, clean solutions for electricity generation.
According to the CEO of Masdar Mohamed Jameel Al Ramahi, partnerships retain a pivotal role, thanks to the statement, “Partnerships are crucial for enabling the energy transition and ultimately, the goal of increasing installed renewable energy capacity threefold by 2030.
As mentioned, Beatrice Buffon, EDF Group Vice President, and CEO of EDF Renewables said thank you to project partners. ‘On behalf of KOWEPO, Masdar and EWEC, I extend my appreciation for the support to develop Al Ajban Solar PV plant,’ Buffon said.
It is hoped that this project will mark an important development toward achieving UAE’s long term vision of producing 7.5 GW of solar power by the year 2030.
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