When Saudi Arabia’s Acwa Power and Spanish partner TSK won the contract to build a 200MW project in Dubai at a world-record subsidy-free low price of $58.50/MWh in January, many wondered if the sector had turned a corner in terms of costs.
After all, the winning bid for the second phase of the Mohammad Bin Rashid Al Maktoum solar park — the largest-ever single-project solar tender — came in $20-30/MWh lower than the cost of natural-gas generation in the emirate, according to International Renewable Energy Association director-general Adnan Amin.
So
