Abu Dhabi bites the solar bullet

The UAE’s richest emirate is proceeding with its renewables buildout despite rising costs

Solar developers enjoyed a break from the dearth of new Mideast Gulf projects in early May as Abu Dhabi launched the competition for its third solar PV scheme. State-owned Emirates Water and Electricity Company solicited expressions of interest by 27 May from prospective developers for a 1.5GW solar PV plant at Ajban in the east of the emirate. As is typical in the Abu Dhabi model for conventional and renewable independent power projects (IPPs) alike, the government entity will take a 60pc stake in the developer consortium. Previous electricity offtake agreements have been for 25 and 30 years. The recent progress comes at a time when the UAE needs to capture a continued flow of green investm