PwC advises Ewec on solar and battery project
24 January 2025
The Middle East office of London-headquartered consultancy PwC has advised Abu Dhabi utility offtaker Emirates Water & Electricity Company (Ewec) on its solar photovoltaic (PV) and battery energy storage system (bess) project in Abu Dhabi.
PwC acted as the lead financial, commercial and development adviser to Ewec on its project with Abu Dhabi Future Energy Company (Masdar), PwC said in a social media post.
Ewec and Masdar signed the power-purchase agreement for the project earlier this month. The project involves developing 5,200MW of solar and 19 gigawatt-hours (GWh) of bess plants to provide round-the-clock solar power.
Masdar recently announced having selected India’s Larsen & Toubro and Beijing-headquartered PowerChina to undertake the engineering, procurement and construction (EPC) contract for the project.
MEED sources said the project will be developed across two sites.
Masdar also picked Shanghai-based Jinko Solar and Beijing-headquartered JA Solar to supply solar PV modules, it said in a statement on 17 January.
Another Chinese firm, Fujian-based Contemporary Amperex Technology Company (CATL), will supply the bess for the combined solar and bess project.
Abdulaziz Alobaidli, Masdar’s chief operating officer, signed and awarded the letters of award for the EPC contracts on 17 January.
Jinko Solar and JA Solar are the preferred suppliers for solar PV modules amounting to 2.6GW each, with maximum efficiency and production for 30 years.
CATL, as the preferred supplier for the bess, will supply its Tener technology for the 19GWh bess component of the project.
Powering AI
The project will help power advancements in artificial intelligence (AI) and emerging technologies, supporting the delivery of the UAE National Strategy for Artificial Intelligence 2031 and the Net Zero by 2050 strategic initiative, UAE President Sheikh Mohamed Bin Zayed Al-Nahyan announced the same day.
MEED first reported on the planned project in October, when Masdar started approaching potential co-developers and investors.
It is understood that Masdar is holding discussions with potential co-investors and developers in the project.
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