Dubai Electricity and Water Authority (DEWA) has issued the Initial Commercial Operation certificate to ACWA Power for the second phase of the Noor Energy 1 independent power project.
With an additional 200 megawatts (MW), the total operational capacity of the project, located in the fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park in the UAE, now stands at 717 MW.
ACWA Power, holding a 25% stake in Noor Energy 1, anticipates a positive financial impact from the joint venture starting in Q1 2024. DEWA’s net profits declined from AED 6.23 billion in 9M-22 to AED 5.99 billion in the first nine months of 2023.
The Noor Energy project is a key component of the Mohammed bin Rashid Al Maktoum Solar Park in the UAE, contributing to the region’s renewable energy goals.
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 grants ACWA Power the Initial Commercial Operation certificate for the second phase of the Noor Energy 1 independent power project, adding 200 MW to the total operational capacity of 717 MW. ACWA Power expects a positive impact on its financials from Q1 2024. DEWA's net profits, attributable to the owners, declined to AED 5.99 billion in the first nine months of 2023.){kind=link}