United Arab Emirates (UAE)-based energy company Masdar has officially signed an agreement with Dubai Electricity and Water Authority (DEWA) to build and operate the sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park.

With an energy generation capacity of 1.8GW, the sixth phase of the solar facility will be built with an investment of Dh5.51bn ($1.5bn).

Masdar chairman Dr Sultan Al Jaber said: “Being awarded this landmark renewable energy project on the world’s largest single-site solar park is another significant milestone for Masdar.

“It is a testament to Masdar’s track record in pioneering clean energy projects as we continue to support the UAE’s net-zero by 2050 strategic initiative. This landmark project demonstrates definitive action in our shared journey towards a cleaner, greener future.”

The current total production capacity of solar projects at the solar park is more than 2.4GW. DEWA is also constructing another solar facility with 433MW of capacity.

The sixth phase of the solar park will increase the total production capacity to more than 4.6GW.

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Once completed, the sixth phase will generate enough clean energy to power 540,000 residences with green electricity, while displacing 2.36 million tonnes of carbon emissions annually.

DEWA managing director and CEO Saeed Mohammed Al Tayer said: “In line with the vision and directives of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, we are committed to achieving a balance between development and environmental sustainability across social, economic and environmental plans.

“This underscores the UAE’s prominent status as one of the world’s largest investors in clean and renewable energy projects.

“It also affirms our support for the UAE’s hosting of COP28 at Expo City Dubai, aligning our strategies and policies with the UN Sustainable Development Goals 2030 in sustainability, innovation and future-making.”