Enough investments available for UAE’s $600b transition to 44% clean energy by 2050, Dubai Carbon CEO says
Abu Dhabi: Solar energy costs will witness record lows this year, following two world records set in Dubai and Abu Dhabi last year, a senior executive told Gulf News.
“Solar PV (photovoltaic) cost will further go down below 2 cents per kWh (kilowatt-hour) this year [beyond 2.42 cents/kWh record set in Abu Dhabi last year],” Ivano Iannelli, CEO of Dubai Carbon Centre of Excellence (Dubai Carbon), said in an interview during Abu Dhabi Sustainability Week.
Dubai Carbon tries to facilitate the transition to a low-carbon and green economy through the consolidation of knowledge.
Iannelli was referring to the two world records in 2016 as Dubai and Abu Dhabi authorities received the cheapest bids to build solar photovoltaic (PV) plants.
Dubai Electricity and Water Authority revealed in May last year that it had received a bid of 2.99 cents per kilowatt-hour from developers seeking to be part of the third phase of the Mohammad Bin Rashid Al Maktoum Solar Park. It was a world record then, which was subsequently broken by a...Read more...