On October 10, Emirates Water and Electricity Company (EWEC) announced that French renewable energy developer Engie and UAE-based Masdar have been awarded the 1.5 GW Khazna Solar PV Independent Power Project. EWEC has signed a power purchase agreement with the developers.
The Khazna Solar Project is the fourth utility-scale solar initiative in the UAE and will be equipped with nearly 3 million solar panels. Engie and Masdar will be responsible for the project’s design, financing, construction, and operation. The project is expected to achieve financial closure by the end of the fourth quarter of 2025.
