(MENAFN- Khaleej Times) Dubai-based company ABB, which produces electrification, robotics and motion, industrial automation and power grids, is bidding for nearly $700 million (Dh2.57 billion) worth of power projects in the UAE, a senior official said.
"We are bidding for a 132kv substation of the Dewa [Dubai Electricity and Water Authority]. We are also bidding for all construction projects and developers such as solar plant with Acwa. We are also quoting for Adnoc [Abu Dhabi National Oil Co] oil and gas for their expansion projects. Plus, we are also bidding for different Adwea [Abu Dhabi Water and Electricity Authority] projects. So overall, we are pitching for more than $600 million to $700 million of projects here," said Mostafa Al Guezeri, managing director of ABB.
The company has also been involved in a 400KV substation at the Mohammed bin Rashid Solar Park. Last month, it was also awarded 400KV substations for Shams projects from the Dewa.
Regionally, the company also operates in Bahrain, Oman, Iraq and Pakistan, among others. The company has also installed the region's largest privately-owned rooftop solar energy system at its premises in Al Quoz, Dubai.
Al Guezeri said prices of solar energy has dropped significantly. He expects to it to drop further due to advancements in technology and increased production from Chinese companies. "The price of solar panels has gone down substantially, thanks to new and advanced technology. Plus China has also taken the lead in this sector. These brought down prices dramatically from $10 a kilotonne in less than 15 years to less than $3 now. The latest Acwa power project that it won was $2.4, which was the lowest worldwide. We are seeing transformation in technology not on a yearly basis but on a daily basis. In the next 10-15 years, the solar cost could go down below $1 a kilotonne," Al Guezeri added.
He noted that on average, a UAE residents can save up to 40 per cent on energy bills by installing solar energy.
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