Masdar, as part of a consortium, is developing the third phase of the Mohammed bin Rashid Al Maktoum (MBR) Solar Park. Phase 3 comprises 800 megawatts (MW), and is part of what will be the largest single-site solar park in the world, with a planned capacity of 5,000 MW by 2030.
Owned by Dubai Electricity and Water Authority (DEWA), the third phase is being developed by Shuaa Energy 2, the project company that includes Masdar, EDF Renewables and DEWA. A Masdar-led consortium won the project in July 2016, as a result of offering the lowest recorded bid for a solar plant at the time, valued at 2.99 US cents per kilowatt hour (kW/h).
Construction of Phase 3 began in January 2017, with financial close achieved in June 2017. The first 200 MW came on stream in April 2018, becoming the largest solar power plant to track the path of the sun, and the first of its kind in the Middle East. The second 300 MW was completed in 2019, and the final 300 MW in 2020. The project was inaugurated in November 2020.
Phase 3 contributes to climate change mitigation by offsettings 1.4 million tonnes of CO2 emissions per year.