A consortium led by Abu Dhabi National Energy Company (Taqa) and Masdar, in partnership with France’s EDF and JinkoPower, will develop the world’s largest solar power plant with a total capacity of 2 gigawatts in Abu Dhabi.
The project was awarded after a “rigorous procurement process [that] resulted in one of the most cost-competitive tariffs for solar PV energy”, the Emirates Water and Electricity Company said on Sunday.
The utility said the tariff was set at Dh4.97 fils per kilowatt hour ($1.35 cents/kWh) on a levelised cost of electricity basis”.
“The Al Dhafra Solar PV plant is a benchmark project for our nation and the global energy sector,” said Jasim Thabet, group chief executive and managing director at Taqa.
“The project’s low tariff and utilisation of best-in-class technology further demonstrate the feasibility of utility-scale renewable energy projects that are accelerating our nation’s progress on meeting the ambitious energy objectives outlined in the UAE Energy Strategy 2050.”
The project’s financial closure is set for the third quarter of this year, with power generation expected to begin in the first half of 2022 and full generation by the second half of 2022.
Once fully operational, the plant will increase Abu Dhabi’s solar power capacity to approximately 3.2 gigawatts.
The UAE is diversifying its energy mix and turning to solar and nuclear energy as it looks to free up hydrocarbons for export markets and generate up to 44 per cent of its energy from clean sources by 2050.
“By building one of the biggest solar plants in the world, adding up to their already significant renewable production capacity, the UAE is leading the renewable transition in the region,” said Sofia Bensaid, S&P Global Ratings infrastructure analyst.
Taqa and Masdar will own 60 per cent of Al Dhafra project, while the remaining 40 per cent will be held by EDF and China’s JinkoPower.
The project is expected to provide electricity to about 160,000 households across the UAE. It will be bigger than Taqa’s 1.2 gigawatt ‘Noor Abu Dhabi’ solar plant, the world’s largest operational single-site solar PV plant, according to EWEC.
“We are excited to be working with [the project’s partners] to realise the world’s largest single-site solar power plant in Abu Dhabi, building on our existing portfolio of world-class projects in the UAE, including Shams in Madinat Zayed in Abu Dhabi and the third phase of the Mohammed Bin Rashid Al Maktoum Solar Park in Dubai,” Mohamed Al Ramahi, chief executive of Masdar, said.
Apart from the UAE, other countries such as Saudi Arabia, Jordan, Egypt and Morocco are also coming up with new renewable energy projects.
Saudi Arabia, the world’s largest oil exporter, plans to add 60 gigawatts of clean energy capacity to the national grid by 2030. Of this, 40GW will come from solar photovoltaic plants, 16 gigawatts from wind turbines and 2.7 gigawatts from concentrated solar power, according to the kingdom’s Ministry of Energy.
The country is developing the $500m (Dh1.83 billion) Dumat Al Jandal wind project in Al Jouf, which is expected to be completed in 2022.
A consortium that comprises Masdar and EDF is building the project.
Jordan, on the other hand, plans to increase its renewable energy capacity to 2.7 gigawatts by 2021.
The 117-megawatt Tafila wind project accounts for 12 per cent of renewable energy generation in Jordan and is owned by JWPC, in which Abu Dhabi’s Masdar holds a 50 per cent stake.
Dubai intends to generate 25 per cent of its energy requirements from renewable sources by 2030 and 75 per cent by 2050 as part of its clean energy drive. The Dubai Electricity and Water Authority is building the world’s largest solar energy park to help reduce the emirate’s reliance on natural gas and diversify its power sources.
The Mohammed bin Rashid Solar Park is expected to generate 5 gigawatts of electricity by 2030, helping boost investment by Dh50bn.
In April, Dewa signed a 25-year power purchase agreement with Saudi Arabia’s Acwa Power for the fifth phase of the Mohammed bin Rashid Al Maktoum solar park. The 900MW phase will be commissioned in stages starting from the third quarter of 2021, according to the utility.
Morocco, meanwhile, intends to generate 42 per cent of its power from renewable sources by 2020 and 52 per cent by 2030.
Last year, an international consortium including Masdar won a tender to construct an 800MW solar power plant in the country.
The ten largest solar power plants in the world
- Tengger Desert Solar Park, China – 1,547MW
- Sweihan Photovoltaic Independent Power Project, UAE – 1,177MW
- Yanchi Ningxia Solar Park, China – 1,000MW
- Datong Solar Power Top Runner Base, China – 1,070MW
- Kurnool Ultra Mega Solar Park, India – 1,000MW
- Longyangxia Dam Solar Park, China – 850MW
- Enel Villanueva PV Plant, Mexico – 828MW
- Kamuthi Solar Power Station, India – 648MW
- Solar Star Projects, US – 579MW
- Topaz Solar Farm / Desert Sunlight Solar Farm, US – 550MW
Source: Power Technology.com
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
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More on Quran memorisation:
Hurricanes 31-31 Lions
Wellington Hurricanes:
Tries: Gibbins, Laumape, Goosen, Fifita tries, Barrett
Conversions: Barrett (4)
Penalties: Barrett
British & Irish Lions:
Tries: Seymour (2), North
Conversions: Biggar (2)
Penalties: Biggar (4)
TOUCH RULES
Touch is derived from rugby league. Teams consist of up to 14 players with a maximum of six on the field at any time.
Teams can make as many substitutions as they want during the 40 minute matches.
Similar to rugby league, the attacking team has six attempts - or touches - before possession changes over.
A touch is any contact between the player with the ball and a defender, and must be with minimum force.
After a touch the player performs a “roll-ball” - similar to the play-the-ball in league - stepping over or rolling the ball between the feet.
At the roll-ball, the defenders have to retreat a minimum of five metres.
A touchdown is scored when an attacking player places the ball on or over the score-line.
What is the definition of an SME?
SMEs in the UAE are defined by the number of employees, annual turnover and sector. For example, a “small company” in the services industry has six to 50 employees with a turnover of more than Dh2 million up to Dh20m, while in the manufacturing industry the requirements are 10 to 100 employees with a turnover of more than Dh3m up to Dh50m, according to Dubai SME, an agency of the Department of Economic Development.
A “medium-sized company” can either have staff of 51 to 200 employees or 101 to 250 employees, and a turnover less than or equal to Dh200m or Dh250m, again depending on whether the business is in the trading, manufacturing or services sectors.
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
How to join and use Abu Dhabi’s public libraries
• There are six libraries in Abu Dhabi emirate run by the Department of Culture and Tourism, including one in Al Ain and Al Dhafra.
• Libraries are free to visit and visitors can consult books, use online resources and study there. Most are open from 8am to 8pm on weekdays, closed on Fridays and have variable hours on Saturdays, except for Qasr Al Watan which is open from 10am to 8pm every day.
• In order to borrow books, visitors must join the service by providing a passport photograph, Emirates ID and a refundable deposit of Dh400. Members can borrow five books for three weeks, all of which are renewable up to two times online.
• If users do not wish to pay the fee, they can still use the library’s electronic resources for free by simply registering on the website. Once registered, a username and password is provided, allowing remote access.
• For more information visit the library network's website.
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
