Developers to submit Dubai 1.8GW solar bids
5 June 2023
State utility Dubai Electricity & Water Authority (Dewa) has extended until 7 June the tender closing date for the contract to develop the 1,800MW sixth phase of Dubai's Mohammed bin Rashid Solar Park project.
Dewa issued the request for proposals for the solar photovoltaic (PV) independent power producer (IPP) contract in December and initially expected to receive bids by the end of May.
Abu Dhabi-based Masdar, Saudi utility Acwa Power and France's EDF are among those qualified to bid for the contract, as MEED previously reported.
The state utility briefed bidders about the project in March.
The sixth package of the MBR Solar Park project is expected to be commissioned in phases between 2024 and 2026.
Dewa's transaction advisory team on the project includes UK-headquartered Ernst & Young (EY) as financial adviser and Norway's DNV and UK-headquartered DLA Piper as technical and legal advisers, respectively.
MBR solar park
A total of 2,327MW of clean energy capacity, derived from solar PV and concentrated solar power plant (CSP) facilities at MBR Solar Park, is now operational.
This takes renewable energy's share of the state utility’s overall capacity of 14,817MW to 15.7 per cent.
MBR Solar Park project’s phases and construction statuses are as follows:
- 13MW solar PV phase one: completed in 2013
- 200MW solar PV phase two: commissioned in 2017
- 800MW solar PV phase three: commissioned in 2020
- 950MW hybrid CSP/solar PV phase four: first 217MW from the solar PV panels and 200MW from CSP using parabolic basins are connected to the Dewa electricity grid as of January, the rest is under construction
- 900MW solar PV phase five: 800MW operational, 100MW under construction
The complex's fourth phase features the word’s tallest solar power tower at 262.4 metres. On its completion, the project will have the largest thermal storage capacity in the world of 15 hours, allowing for energy availability around the clock, according to Dewa managing director and CEO Saeed Mohammed Al-Tayer
The solar park’s planned total production capacity of 5,000MW will require investments valued at $13.6bn when complete in 2030.
RELATED READ: GCC’s top renewable energy clients
Energy demand in Dubai reached 53,180 gigawatt-hours (GWh) in 2022, up 5.5 per cent compared to 50,401 GWh in 2021, Dewa said earlier this year.
This growth is half of what was achieved in 2021, at 10 per cent, which marked the emirate's resurgence from the Covid-19 pandemic.
Al-Tayer said his agency will continue to contribute to developing an infrastructure that is among “the most efficient worldwide”, in line with Dubai’s economic agenda.
The Dubai Economic Agenda 2033 (D33) aims to double the size of Dubai’s economy over the next decade and consolidate its position among the top three global cities.
The Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050 aim to provide 100 per cent of Dubai’s total power production capacity from clean energy sources by 2050.
Exclusive from Meed
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Regional rail industry emerges8 December 2025
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Visa agrees to support digital payments in Syria5 December 2025
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Meraas announces next phase of Nad Al-Sheba Gardens5 December 2025
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Frontrunner emerges for Riyadh-Qassim IWTP5 December 2025
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Adnoc creates new company to operate Ghasha concession5 December 2025
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Regional rail industry emerges8 December 2025
Commentary
Colin Foreman
EditorRead the December issue of MEED Business Review
The GCC is experiencing a fundamental shift in its approach to rail infrastructure, as it moves from standalone projects to a self-sustaining regional industry. The transition is evident as local, national and regional projects advance across the region.
The first wave of metro systems, in Dubai, Doha, and most recently, Riyadh, have reported stronger-than-expected ridership and demonstrated the viability of mass transit in the Gulf.
Extensions to those networks are planned or under way, including Dubai’s Blue and Gold lines and Riyadh’s Line 2, alongside planned metros elsewhere such as Muscat and Bahrain.
Projects are also planned and already being delivered at the national level. The UAE’s Etihad Rail and Saudi Arabian Railways are leading most of these efforts. The region’s first cross-border project is also progressing with the Hafeet Rail scheme linking the UAE and Oman.
Other cross-border schemes are planned, including high speed links connecting Riyadh with Doha and Kuwait City, and rail links for Bahrain across causeways to Saudi Arabia and Qatar. The ultimate ambition is a GCC Rail network – a project that was reinvigorated by the Al-Ula accords in 2021.
Sustained, simultaneous activity across the GCC is fostering the development of an indigenous regional rail industry. Rather than being executed as isolated endeavours, projects are creating ongoing demand for expertise, personnel and resources within the region.
Project delivery capability will be complemented by the establishment of crucial ancillary services, including fabrication and servicing facilities.
These operations will shift the GCC from a lucrative market for international contractors to a regional hub for the rail industry, capable of servicing and sustaining its growing network.
READ THE DECEMBER 2025 MEED BUSINESS REVIEW – click here to view PDFProspects widen as Middle East rail projects are delivered; India’s L&T storms up MEED’s EPC contractor ranking; Manama balances growth with fiscal challenges
Distributed to senior decision-makers in the region and around the world, the December 2025 edition of MEED Business Review includes:
> AGENDA 1: Regional rail construction surges ahead> INDUSTRY REPORT 1: Larsen & Toubro climbs EPC contractor ranking> INDUSTRY REPORT 2: Chinese firms expand oil and gas presence> CONSTRUCTION: Aramco Stadium races towards completion> RENEWABLES: UAE moves ahead with $6bn solar and storage project> INTERVIEW: Engie pivots towards renewables projects> BAHRAIN MARKET FOCUS: Manama pursues reform amid strainTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/15213797/main.gif -
Visa agrees to support digital payments in Syria5 December 2025
Visa and the Central Bank of Syria have agreed on a strategic roadmap that will allow the US-based card and digital payments company to begin operations in Syria and support the development of a modern digital payments system.
Under the agreement, Visa will work with licensed Syrian financial institutions under a phased plan to establish a secure foundation for digital payments.
The early stages will involve Visa supporting the central bank in issuing Europay, Mastercard and Visa (EMV)-compliant payment cards and enabling tokenised digital wallets – bringing the country in line with internationally interoperable standards.
Visa will also provide access to its platforms, including near-field communication (NFC) and QR-based payments, invest in local capacity building and support local entrepreneurs seeking to develop solutions leveraging Visa’s global platform.
“A reliable and transparent payment system is the bedrock of economic recovery and a catalyst that builds the confidence required for broader investment to flow into the country,” noted Visa’s senior VP for the Levant, Leila Serhan. “This partnership is about choosing a path where Syria can leapfrog decades of legacy infrastructure development and immediately adopt the secure, open platforms that power modern commerce.”
The move marks one of the most significant steps yet in Syria’s slow and uneven return to the formal global financial system and carries implications that reach beyond just payments technology.
It lays the groundwork for overturning more than a decade of financial isolation in which Syria has operated largely outside global banking and settlement networks.
Visa’s entry will not erase all existing barriers – as many restrictions remain in force and will continue to shape what is practically possible – but its support signals a reopening of channels that could smooth Syria’s reintegration into financial networks.
The involvement of the US-based payments provider is also a further tacit sign of the US government’s enthusiastic bear hug of the new post-Assad Syrian government under President Ahmed Al-Sharaa.
For investors assessing long-term opportunities, the presence of a globally recognised payments operator will provide reassurance that Syria’s financial system is returning to international norms, and the security and transparency that comes with it.
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Meraas announces next phase of Nad Al-Sheba Gardens5 December 2025
Dubai-based real estate developer Meraas Holding, which is part of Dubai Holding, has announced the eleventh and final phase of its Nad Al-Sheba Gardens residential community in Dubai.
It includes the development of 210 new villas and townhouses and a school, which will be located at the northwest corner of the development.
The latest announcement follows Meraas awarding a AED690m ($188m) contract for the construction of the fourth phase of the Nad Al-Sheba Gardens community in May, as MEED reported.
The contract was awarded to local firm Bhatia General Contracting.
The scope of the contract covers the construction of 92 townhouses, 96 villas and two pool houses.
The contract award came after Dubai-based investment company Shamal Holding awarded an estimated AED80m ($21m) contract to UK-based McLaren Construction last year for the Nad Al-Sheba Gardens mall.
The project covers the construction and interior fit-out of a two-storey mall, covering an area of approximately 12,600 square metres.
The UAE’s heightened real estate activity is in line with UK analytics firm GlobalData’s forecast that the construction industry in the country will register annual growth of 3.9% in 2025-27, supported by investments in infrastructure, renewable energy, oil and gas, housing, industrial and tourism projects.
The residential construction sector is expected to record an annual average growth rate of 2.7% in 2025-28, supported by private investments in the residential housing sector, along with government initiatives to meet rising housing demand.
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Frontrunner emerges for Riyadh-Qassim IWTP5 December 2025

Saudi Arabia’s Vision Invest has emerged as frontrunner for the contract to develop the Riyadh-Qassim independent water transmission pipeline (IWTP) project, according to sources.
State water offtaker Saudi Water Partnership Company (SWPC) is preparing to award the contract for the IWTP "in the coming weeks", the sources told MEED.
The project, valued at about $2bn, will have a transmission capacity of 685,000 cubic metres a day. It will include a pipeline length of 859 kilometres (km) and a total storage capacity of 1.59 million cubic metres.
In September, MEED reported that bids had been submitted by two consortiums and one individual company.
The first consortium comprises Saudi firms Al-Jomaih Energy & Water, Al-Khorayef Water & Power Technologies, AlBawani Capital and Buhur for Investment Company.
The second consortium comprises Bahrain/Saudi Arabia-based Lamar Holding, the UAE's Etihad Water & Electricity (Ewec) and China’s Shaanxi Construction Installation Group.
The third bid was submitted by Saudi Arabia's Vision Invest.
It is understood that financial and technical bids have now been opened and Vision Invest is likely to be awarded the deal.
The Riyadh-based investment and development company made a "very aggressive" offer, one source told MEED.
In November, the firm announced it had sold a 10% stake in Saudi Arabia-based Miahona as part of a strategy to reallocate capital "towards new and diversified investments".
The company did not disclose which projects the capital might be reallocated towards.
As MEED recently reported, Vision Invest is also bidding for two major packages under Dubai's $22bn tunnels programme in a consortium with France's Suez Water Company.
The Riyadh-Qassim transmission project is the third IWTP contract to be tendered by SWPC since 2022.
The first two are the 150km Rayis-Rabigh IWTP, which is under construction, and the 603km Jubail-Buraydah IWTP, the contract for which was awarded to a team of Riyadh-based companies comprising Al-Jomaih Energy & Water, Nesma Group and Buhur for Investment Company.
Like the first two IWTPs, the Riyadh-Qassim IWTP project will be developed using a 35-year build-own-operate-transfer contracting model.
Commercial operations are expected to commence in the first quarter of 2030.
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Adnoc creates new company to operate Ghasha concession5 December 2025
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The board of directors of Abu Dhabi National Oil Company (Adnoc Group) has approved the establishment of a new company to operate the Ghasha offshore sour gas concession in Abu Dhabi waters.
The decision to create the new entity, to be called Adnoc Ghasha, was taken during a recent meeting of Adnoc Group’s board in Abu Dhabi, which was chaired by Sheikh Mohamed Bin Zayed Al-Nahyan, UAE President and Ruler of Abu Dhabi.
Adnoc Group owns and operates the Ghasha concession, holding the majority 55% stake. The other stakeholders in the asset are Italian energy major Eni with a 25% stake, Thailand’s PTTEP Holding, which holds a 10% interest, and Russia’s Lukoil, owning the remaining 10% stake.
The Ghasha concession consists of the Hail and Ghasha fields, along with the Hair Dalma, Satah al-Razboot (Sarb), Bu Haseer, Nasr, Shuwaihat and Mubarraz fields.
Adnoc expects total gas production from the concession to ramp up to more than 1.8 billion cubic feet a day (cf/d) before the end of the decade, along with 150,000 barrels a day of oil and condensates. This target will mainly be achieved through the Hail and Ghasha sour gas development project.
In October 2023, Adnoc and its partners awarded $16.94bn of engineering, procurement and construction (EPC) contracts for its Hail and Ghasha project – the biggest capital expenditure made by the Abu Dhabi energy company on a single project in its history.
Adnoc awarded the onshore EPC package to Italian contractor Tecnimont, while the offshore EPC package was awarded to a consortium of Abu Dhabi’s NMDC Energy and Italian contractor Saipem.
The $8.2bn contract relates to EPC work on offshore facilities, including facilities on artificial islands and subsea pipelines.
The Hail and Ghasha development will also feature a plant that will capture and purify carbon dioxide (CO2) emissions for sequestration (CCS), in line with Adnoc’s committed investment for a carbon capture capacity of almost 4 million tonnes a year (t/y). The CO2 recovery plant will have a total capacity to capture and store 1.5 million t/y of emissions from the Hail and Ghasha scheme.
Prior to reaching the final investment decision on the Hail and Ghasha project in 2023, the Ghasha concession partners, led by Adnoc, awarded two EPC contracts worth $1.46bn in November 2021 to execute offshore and onshore EPC works on the Dalma gas development project. The project will enable the Dalma field to produce about 340 million cf/d of natural gas.
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