Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, and Sheikh Mansour bin Zayed, Vice President, Deputy Prime Minister and Minister of the Presidential Court, on Wednesday witnessed the signing of an agreement between the Dubai Electricity and Water Authority and Masdar to implement the sixth phase of the project to develop the world's largest single-site solar photovoltaic power plant.
The sixth phase of the project will use PV solar panels based on the Independent Power Producer model, and has an estimated cost of Dh5.51 billion ($1.4 billion).
It will “provide energy for more than half a million homes and reduce energy consumption”, Sheikh Mohammed said on X, formerly Twitter.
“Work on all phases of this huge project will be completed in 2030 with a total investment of Dh50 billion. Our goal is 100 per cent clean energy for Dubai by 2050,” Sheikh Mohammed wrote.
The sixth phase of the project is set to be operational in stages starting from the fourth quarter of 2024, Dubai Media Office said in a statement on Wednesday.
It is expected to power more than half a million residences while reducing carbon emissions by 2.36 million tonnes annually.
Being awarded the project is "testament to Masdar’s track record in pioneering clean energy projects as we continue to support the UAE's Net Zero by 2050 strategic initiative", said Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, chairman of Masdar and Cop28 President-designate.
"Ahead of our nation hosting Cop28 later this year, it is vital that the world triples global renewable energy capacity by 2030 to keep the ambition of 1.5 degrees within reach. This landmark project demonstrates definitive action in our shared journey towards a cleaner, greener future."
Masdar was selected from 23 international bidders and offered a levelised cost of energy of $1.6215 cents per kilowatt hour (kWh), the lowest of any of Dewa’s solar IPP model projects to date.
The 1,800 megawatt sixth phase of the solar park will increase total production capacity to 4,660MW.
"This underscores the UAE’s prominent status as one of the world’s largest investors in clean and renewable energy projects," said Saeed Mohammed Al Tayer, managing director and chief executive of Dewa.
"It also affirms our support for the UAE’s hosting of the Cop28 at Expo City Dubai, aligning our strategies and policies with the UN Sustainable Development Goals 2030 in sustainability, innovation and future-making.”
Skoda Superb Specs
Engine: 2-litre TSI petrol
Power: 190hp
Torque: 320Nm
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Available: Now
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What sanctions would be reimposed?
Under ‘snapback’, measures imposed on Iran by the UN Security Council in six resolutions would be restored, including:
- An arms embargo
- A ban on uranium enrichment and reprocessing
- A ban on launches and other activities with ballistic missiles capable of delivering nuclear weapons, as well as ballistic missile technology transfer and technical assistance
- A targeted global asset freeze and travel ban on Iranian individuals and entities
- Authorisation for countries to inspect Iran Air Cargo and Islamic Republic of Iran Shipping Lines cargoes for banned goods
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EA Sports FC 26
Publisher: EA Sports
Consoles: PC, PlayStation 4/5, Xbox Series X/S
Rating: 3/5
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Torque: 300Nm at 1,900rpm
Transmission: eight-speed auto
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SERIES SCHEDULE
First Test, Galle International Stadium
July 26-30
Second Test, Sinhalese Sports Club Ground
August 3-7
Third Test, Pallekele International Cricket Stadium
August 12-16
First ODI, Rangiri Dambulla International Stadium
August 20
Second ODI, Pallekele International Cricket Stadium
August 24
Third ODI, Pallekele International Cricket Stadium
August 27
Fourth ODI, R Premadasa Stadium
August 31
Fifth ODI, R Premadasa Stadium
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T20, R Premadasa Stadium
September 6
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The specs
Company%20profile
Venom
Director: Ruben Fleischer
Cast: Tom Hardy, Michelle Williams, Riz Ahmed
Rating: 1.5/5
Company profile
Date started: December 24, 2018
Founders: Omer Gurel, chief executive and co-founder and Edebali Sener, co-founder and chief technology officer
Based: Dubai Media City
Number of employees: 42 (34 in Dubai and a tech team of eight in Ankara, Turkey)
Sector: ConsumerTech and FinTech
Cashflow: Almost $1 million a year
Funding: Series A funding of $2.5m with Series B plans for May 2020
White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
Meydan race card
6.30pm: Baniyas (PA) Group 2 Dh125,000 (Dirt) 1,400m
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8.15pm: Handicap (TB) Dh170,000 (D) 1,900m
8.50pm: Rated Conditions (TB) Dh240,000 (D) 1,600m
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Should late investors consider cryptocurrencies?
Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.
They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.
“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.
He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.
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2. Paul Pogba - to Manchester United in 2016/17 - €105m
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4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
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10. James Rodriguez - to Real Madrid in 2014/15 - €75m
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1. Liverpool 101 points
2. Manchester City 80
3. Leicester 67
4. Chelsea 63
5. Manchester United 61
6. Tottenham 58
7. Wolves 56
8. Arsenal 56
9. Sheffield United 55
10. Everton 50
11. Burnley 49
12. Crystal Palace 49
13. Newcastle 46
14. Southampton 44
15. West Ham 39
16. Brighton 37
17. Watford 36
18. Bournemouth 36
19. Aston Villa 32
20. Norwich City 29
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2000: Israel withdraws from Lebanon after nearly 30 years without an officially demarcated border. The UN establishes the Blue Line to act as the frontier.
2007: Lebanon and Cyprus define their respective exclusive economic zones to facilitate oil and gas exploration. Israel uses this to define its EEZ with Cyprus
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2018-2019: US seeks to mediate between Israel and Lebanon to prevent clashes over oil and gas resources.
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What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
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