One of the world’s largest single-site solar power plants, Noor Abu Dhabi began commercial operations in April 2019. It is EWEC’s first significant project that uses sustainable technology, achieving a key milestone in the transformation of Abu Dhabi’s energy sector, and increasing the share of the country’s energy mix.
Located at Sweihan, Abu Dhabi, it covers an area of 8 square kilometres and features 3.2 million solar panels. The plant produces approximately 1 gigawatt (AC) of power, reducing reliance on the usage of natural gas for electricity generation resulting in a carbon footprint reduction of 1 million metric tonnes per year, which is equivalent to taking 200,000 cars off the road.
Beyond size, Noor Abu Dhabi broke another record at the time of bid submission in September 2016, attracting the world’s most competitive tariff of 8.888 fils/kWh.
The project has won numerous awards throughout the development, most recently winning Power Generation Project of the Year Award at MEED Projects Awards 2020, and Utility Project of the Year Award at the 2020 Middle East Solar Awards, held by the Middle East Solar Industry Association.
In January 2022, Abu Dhabi Securities Exchange (ADX) announced the listing of its first green bond, issued by Sweihan PV Power Company (SPPC), which built, owns and operates solar power project Noor Abu Dhabi. The secondary bond listing of $700 million of fixed-rate amortising senior secured green bonds takes the total number of debt instruments listed on ADX to 28.
Abu Dhabi National Energy Company (TAQA) owns 60 per cent of the project with Marubeni Corporation and JinkoPower each holding 20 per cent.
