Some of the world’s leading solar power developers have pulled out of the running for Abu Dhabi’s upcoming plant amid expectations that aggressive bidding will push prices to record lows.
Top industry names, including Enel of Italy, Spanish company TSK and Saudi Arabia’s Acwa Power and Abdul Latif Jameel (ALJ), are no longer among the companies vying for the 350 megawatt Sweihan solar project, according to an industry source.
Each of these companies has a track record of aggressive bidding. Acwa and TSK set a new solar benchmark last year in Dubai for the 200MW second phase of the Mohammed bin Rashid Al Maktoum solar park at 5.84 US cents per kilowatt hour.
In April, Enel bid 3.5 cents per kWh in Mexico for 1,000MW of projects only to be topped last week in Dubai.
Abu Dhabi's Masdar and ALJ's FRV won the latest 800MW tender in Dubai at 2.99 cents a kWh – setting a new world record.
A great deal of chatter has surrounded the Sweihan tender issued by the Abu Dhabi Water and Electricity Authority (Adwea) with some saying that the Dubai price will either be replicated or beaten again causing some companies to retreat from the bidding.
Mohammed Atif, the Middle East and Africa regional manager for DNV GL, an energy consultancy, said companies may be exercising caution or simply not placing all eggs in one basket. “A number of the ‘usual suspects’ may be looking to diversify their strategy to maintain a balanced investment portfolio,” Mr Atif said, pointing to the example of partner switches by Masdar.
“What is interesting on the list is that Masdar is partnered with FRV in Dubai but joined with EDF in Abu Dhabi,” Mr Atif said.
ALJ said that its plate was simply full and that is why it would sit this one out. “Abdul Latif Jameel Energy did not proceed with a bid at this time having considered the pre-qualification criteria and in light of the large megawatt projects that we are currently managing around the world,” said Roberto de Diego Arozamena, the chief executive of ALJ Energy. “We continue to be interested in energy projects in the UAE and fully support the renewable energy ambitions of the region.”
Acwa, Enel, TSK and the Abu Dhabi utility’s procurement arm could not be reached for comment.
Gus Schellekens, a partner at the clean energy division of the consultancy EY, said attracting new bidders allows a greater potential for innovation.
“If you have different bidders successful in Abu Dhabi and Dubai, it’s good for the renewable energy programme in the UAE as well as the international market in terms of technology,” he said.
“For the region to be successful in the long term in achieving ambitious targets requires the international markets to be engaged in delivering new projects – not just a couple of successful bidders.”
lgraves@thenational.ae
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What is 'Soft Power'?
Soft power was first mentioned in 1990 by former US Defence Secretary Joseph Nye.
He believed that there were alternative ways of cultivating support from other countries, instead of achieving goals using military strength.
Soft power is, at its root, the ability to convince other states to do what you want without force.
This is traditionally achieved by proving that you share morals and values.
Day 5, Abu Dhabi Test: At a glance
Moment of the day When Dilruwan Perera dismissed Yasir Shah to end Pakistan’s limp resistance, the Sri Lankans charged around the field with the fevered delirium of a side not used to winning. Trouble was, they had not. The delivery was deemed a no ball. Sri Lanka had a nervy wait, but it was merely a stay of execution for the beleaguered hosts.
Stat of the day – 5 Pakistan have lost all 10 wickets on the fifth day of a Test five times since the start of 2016. It is an alarming departure for a side who had apparently erased regular collapses from their resume. “The only thing I can say, it’s not a mitigating excuse at all, but that’s a young batting line up, obviously trying to find their way,” said Mickey Arthur, Pakistan’s coach.
The verdict Test matches in the UAE are known for speeding up on the last two days, but this was extreme. The first two innings of this Test took 11 sessions to complete. The remaining two were done in less than four. The nature of Pakistan’s capitulation at the end showed just how difficult the transition is going to be in the post Misbah-ul-Haq era.
Points classification after Stage 4
1. Arnaud Demare (France / FDJ) 124
2. Marcel Kittel (Germany / Quick-Step) 81
3. Michael Matthews (Australia / Sunweb) 66
4. Andre Greipel (Germany / Lotto) 63
5. Alexander Kristoff (Norway / Katusha) 43
Tailors and retailers miss out on back-to-school rush
Tailors and retailers across the city said it was an ominous start to what is usually a busy season for sales.
With many parents opting to continue home learning for their children, the usual rush to buy school uniforms was muted this year.
“So far we have taken about 70 to 80 orders for items like shirts and trousers,” said Vikram Attrai, manager at Stallion Bespoke Tailors in Dubai.
“Last year in the same period we had about 200 orders and lots of demand.
“We custom fit uniform pieces and use materials such as cotton, wool and cashmere.
“Depending on size, a white shirt with logo is priced at about Dh100 to Dh150 and shorts, trousers, skirts and dresses cost between Dh150 to Dh250 a piece.”
A spokesman for Threads, a uniform shop based in Times Square Centre Dubai, said customer footfall had slowed down dramatically over the past few months.
“Now parents have the option to keep children doing online learning they don’t need uniforms so it has quietened down.”
Company profile
Company name: Fasset
Started: 2019
Founders: Mohammad Raafi Hossain, Daniel Ahmed
Based: Dubai
Sector: FinTech
Initial investment: $2.45 million
Current number of staff: 86
Investment stage: Pre-series B
Investors: Investcorp, Liberty City Ventures, Fatima Gobi Ventures, Primal Capital, Wealthwell Ventures, FHS Capital, VN2 Capital, local family offices
A QUIET PLACE
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THE SPECS
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SPECS: Polestar 3
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Max touring range: 628km
0-100km/h: 4.7sec
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On sale: September
The specs
Engine: 6.5-litre V12 and three electric motors
Power: 1,015hp
Torque: 1,500Nm (estimate)
Transmission: Eight-speed dual-clutch auto
On sale: Early 2024
Price: From Dh2 million (estimate)
Profile of RentSher
Started: October 2015 in India, November 2016 in UAE
Founders: Harsh Dhand; Vaibhav and Purvashi Doshi
Based: Bangalore, India and Dubai, UAE
Sector: Online rental marketplace
Size: 40 employees
Investment: $2 million
Herc's Adventures
Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5
RESULTS
6.30pm: Al Maktoum Challenge Round-1 Group 1 (PA) Dh119,373 (Dirt) 1,600m
Winner: Brraq, Adrie de Vries (jockey), Jean-Claude Pecout (trainer)
7.05pm: Handicap (TB) Dh102,500 (D) 1,200m
Winner: Taamol, Connor Beasley, Ali Rashid Al Raihe.
7.40pm: Handicap (TB) Dh105,000 (Turf) 1,800m
Winner: Eqtiraan, Connor Beasley, Ali Rashid Al Raihe.
8.15pm: UAE 1000 Guineas Trial (TB) Dh183,650 (D) 1,400m
Winner: Soft Whisper, Pat Cosgrave, Saeed bin Suroor.
9.50pm: Handicap (TB) Dh105,000 (D) 1,600m
Winner: Hypothetical, Mickael Barzalona, Salem bin Ghadayer.
9.25pm: Handicap (TB) Dh95,000 (T) 1,000m
Winner: Etisalat, Sando Paiva, Ali Rashid Al Raihe
Results
Stage three:
1. Stefan Bissegger (SUI) EF Education-EasyPost, in 9-43
2. Filippo Ganna (ITA) Ineos Grenadiers, at 7s
3. Tom Dumoulin (NED) Jumbo-Visma, at 14s
4. Tadej Pogacar (SLO) UAE-Team Emirates, at 18s
5. Joao Almeida (POR) UAE-Team Emirates, at 22s
6. Mikkel Bjerg (DEN) UAE-Team Emirates, at 24s
General Classification:
1. Stefan Bissegger (SUI) EF Education-EasyPost, in 9-13-02
2. Filippo Ganna (ITA) Ineos Grenadiers, at 7s
3. Jasper Philipsen (BEL) Alpecin Fenix, at 12s
4. Tom Dumoulin (NED) Jumbo-Visma, at 14s
5. Tadej Pogacar (SLO) UAE-Team Emirates, at 18s
6. Joao Almeida (POR) UAE-Team Emirates, at 22s
SPECS
Engine: 2.4-litre 4-cylinder turbo hybrid
Power: 366hp
Torque: 550Nm
Transmission: Six-speed auto
Price: From Dh360,000
Available: Now
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Company Profile
Company name: Namara
Started: June 2022
Founder: Mohammed Alnamara
Based: Dubai
Sector: Microfinance
Current number of staff: 16
Investment stage: Series A
Investors: Family offices