A transaction advisory team comprising US-headquartered Ashurst and Alderbrook Finance and Norwegian engineering services firm DNV is advising state utility Emirates Water & Electricity Company (Ewec) on Abu Dhabi's fourth utility-scale solar photovoltaic (PV) project.

The planned Khazna solar independent power project (IPP), also known as PV4, will have a capacity of 1,500MW.

It will be located in Khazna, between Abu Dhabi and Al Ain, and is expected to reach commercial operation by 2027.

Ewec requested proposals for the contract to develop and operate the solar IPP scheme in April and expects to receive bids by the end of August.

The state utility prequalified nine companies and consortiums as managing members and another 10 that can bid as consortium members.

Parties or companies that are prequalified as managing members are free to bid either individually or as part of a consortium. These include:

• Acwa Power (Saudi Arabia)
• EDF Renewables (France)
• International Power (Engie, France)
• Jera Company (Japan)
• Jinko Power (China)
• Korea Electric Power Corporation (Kowepo, South Korea)
• Marubeni Corporation (Japan)
• Sumitomo Corporation (Japan)
• TotalEnergies Renewables (France)

The following companies can bid as part of a consortium with a managing member: 

• Al Jomaih Energy & Water (Jenwa, Saudi Arabia)
• Avaada Energy (India)
• Buhur for Investment Company (Saudi Arabia)
• China Machinery Engineering Corporation (China)
• China Power Engineering Consulting Group International Engineering Corporation (CPECC, China)
• Kalyon Enerji Yatrimlari (Turkey)
• Korea Western Power Company (Kowepo, South Korea)
• Orascom Construction (Egypt)
• PowerChina International Group
• SPIC Huanghe Hydropower Development (Spic, China)

Solar energy is integral to achieving Abu Dhabi's target of producing nearly 50% of its electricity from renewable and clean energy sources by 2030.

Ewec recently awarded the contract to develop PV3, the 1,500MW Al Ajban solar IPP, to a team led by French utility developer EDF Renewables and including South Korea's Korea Western Power Company (Kowepo).

Like the first three schemes, the Khazna solar PV will involve the development, financing, construction, operation, maintenance and ownership of the plant and associated infrastructure.

The successful developer or developer consortium will own up to 40% of the entity, while the Abu Dhabi government will retain the remaining equity.

The developer will enter into a long-term power-purchase agreement with Ewec.

Once fully operational, the Khazna solar PV, along with Noor Abu Dhabi, the Al Dhafra solar PV and Al Ajban solar PV, will raise Ewec's total installed solar PV capacity to 5.5GW and collectively reduce CO2 emissions by more than 8.2 million metric tonnes a year by 2027.