The world’s largest concentrated solar power (CSP) project was inaugurated in Dubai on Wednesday as part of the fourth phase of the Mohammed Bin Rashid Al Maktoum Solar Park.

The CSP project by DEWA broke records from its very beginning, with ACWA Power’s then-record-low priced PPA at just 7 cents per kWh, and now with the most thermal energy storage in the world at almost 6,000 MWh of solar energy stored in molten salts to run the CSP thermal power block daily.

With a total investment of $4.3 billion (AED15.78 billion), the fourth phase covers an area of 44km2 and features the world’s tallest solar tower at 263.1m high, said a statement from the Dubai Electricity & Water Authority (DEWA).

The 950MW Phase Four project uses three hybrid technologies — 600 megawatts from a parabolic basin complex, 100MW from the CSP tower, and 250MW from photovoltaic solar panels

The project also has a thermal energy storage capacity of 5,907 megawatt hours (MWh) as well as 70,000 heliostats that track the sun’s movement.

“The Molten Salt Receiver (MSR) on top of the solar power tower is the core and the most important part of the CSP plant,” said Saeed Mohammed Al Tayer, managing director and CEO of DEWA in a statement at the project’s inauguration.

“The MSR contains over 1,000 thin tubes that enable the absorption of sunrays and their transfer to the molten salt within these tubes. It receives solar radiation and turns it into thermal energy.”

According to Al Tayer, the project will provide approximately 320,000 residences with clean and sustainable energy and cut carbon emissions by about 1.6 million tonnes annually.

A consortium led by DEWA and Saudi Arabi’s ACWA Power established Noor Energy 1 as a project company to design, build, and operate the fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park. DEWA holds a 51% stake in the company, ACWA Power holds 25%, and the Chinese Silk Road Fund owns 24%.

Al Tayer said this success has been achieved through pioneering strategies and projects driven by advanced research and development, Fourth Industrial Revolution technologies, digital transformation, and the latest renewable and clean energy technologies.

“Through the IPP model, DEWA has achieved the lowest global prices, making Dubai a benchmark for solar energy project prices worldwide,” he noted

The project was inaugurated in a ceremony by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

“The UAE has a clear vision to transform itself into one of the world’s most sustainable nations. Our journey towards sustainability is comprehensive, encompassing advanced clean energy projects across diverse renewable sources, and innovative solutions integrated into various spheres of the economy and society,” said HH Sheikh Mohammed in his inaugural address.

“The Solar Park is at the heart of Dubai and the UAE’s commitment to create a world-class infrastructure for sustainability and a robust foundation for building an environmentally friendly future. Coming at the culmination of the UAE’s Year of Sustainability, the launch of the fourth phase of the Solar Park is an important milestone in our sustainability journey,” he added.

“Our success in creating the world’s largest concentrated solar project underscores our determination to advance climate action and aligns with the goals of the UN Climate Change conference COP28, which the UAE is currently hosting.”