1177 MW Solar Plant in Middle-East

The sharply falling prices of solar panels have led to more and more countries joining the solar bandwagon in a big way. Solar is now cheaper than coal in a number of countries and it has become the obvious choice for countries with a low penetration of renewable energy. Abu Dhabi which is one of the richest nations on earth is also going solar in a big way and that too quite cheap. The country is all set to launch a giant 1177 MW solar PV power plant for which it recently awarded the contract to Japanese Marubeni and Jinko Solar. The $870 million plant will generate power quite cheaply and will dramatically boost the overall power capacity in the Middle East.

Jinko Solar is set to become the largest solar panel shipper in the world as it has grown by leads and bounds using its low cost manufacturing base. This project will help the company meet a  large part of its annual sales projections. It also strengthens Marubeni in the renewable energy space, as it will be responsible for the development and financing of this solar project which will be the biggest solar power plant in the Middle East.

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The consortium of Marubeni and Jinko had won a 350 MW solar power plant at a historically low 2.42 cents/kWh. This low price was due to the very high solar radiation received in Abu Dhabi as well as access to very low-interest rates.

The plant will be built in Sweihan, about 120 kilometers (75 miles) east of the city of Abu Dhabi and help Abu Dhabi diversify away from its reliance on natural gas as the major power source for most of its power plants.

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