UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan has inaugurated World’s largest Solar Power Plant ‘Shams 1’ solar power station in Madinat Zayed, in presence of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai.
Built with the cost of US$600 million, 100 megawatt Shams-1 power plant will enable its parent Masdar gain a competitive edge in developing and investing in similar projects in the region, a senior official at Shams-1 said. Major equipment for the plant were built by more than 70 local companies, besides foreign companies.
The Abu Dhabi-based Masdar appointed the bidding consortium of Total and Abengoa Solar as a partner to own, build and operate Shams -1. Masdar holds a 60 per cent stake in the venture, while Total and Abengoa Solar each hold a 20 per cent stake. Shams-1 will contribute towards Abu Dhabi’s target of achieving seven per cent renewable energy power generation capacity by 2020. Power demand in Abu Dhabi is growing rapidly and is expected to reach 20 gigawatts by 2020.
