Abu Dhabi has set a global record-low solar price as authorities confirmed the winning bid in a 2-gigawatt tender. Upon its expected completion in mid-2022, it is slated to be the largest single-site solar energy project in the world. The Al Dhafra project had five bidders, with the lowest offer coming in at 1.35 U.S. cents per kilowatt-hour. The state-run Abu Dhabi Power Corporation (ADPower) confirmed to GTM that the leading consortium consists of French energy giant EDF and the projects division of Chinese solar manufacturer Jinko Solar.
GTM 28th April 2020 read more »
EDF and Jinko lined up for solar megaproject after record-setting low renewables bid. French/Chinese consortium angles to sign a power-purchase deal for 2GW Al Dhafra project in Abu Dhabi, after $13.50/MWh tender bid.
Recharge 29th April 2020 read more »
“Dramatic” recent gains have pushed solar’s levelised cost of electricity below US$30/MWh and will see the industry break the US$20/MWh average in a decade, BloombergNEF (BNEF) has said. New analysis from the consultancy found that utility-scale solar and onshore wind new-builds have become the cheapest option in countries home to two-thirds of the world’s population, positioning the sectors as a “risk” to existing fossil fuel capacity. The review – published as COVID-19 and other trends unlock a worldwide surge of cheap clean power – assessed the LCOEs achieved by a 25-technology mix of 7,000 projects across 47 countries. It found “dramatic” progress for solar, wind and storage batteries over the past six months. For utility-scale solar, BNEF’s figures document a major LCOE plunge in the past decade. From US$362/MWh in H2 2009, fixed-axis PV projects boasted US$50/MWh in H1 2020, while tracker-equipped plants have seen a similar LCOE crash (US$347 to US$39/MWh) over the same period.
PV Tech 29th April 2020 read more »