Saudi Arabia's ACWA Power Co is on the brink of launching commercial operations at a 300-MW solar project in Dubai, a key component of the Mohammed bin Rashid Al Maktoum solar park.
In a disclosure to the stock market on Thursday, the Riyadh-based developer announced that the project company has received the commercial operation certificate for Phase C of the Shuaa Energy 3 project.
ACWA Power confirmed that the entire plant, with a total capacity of 900 MW, has attained commercial operation status. The Saudi company holds a 24% stake in the Shuaa Energy 3 project.
Upon full completion, the Mohammed bin Rashid Al Maktoum Solar Park is slated to boast a capacity of 5 GW, representing a monumental endeavor with a total investment of AED 50 billion (USD 13.61 billion/EUR 12.53 billion). The expansive complex is scheduled to be fully operational by 2030.
