27 Jun Watch the video: The impact of the 9.45 US$ cents CSP bid on the MENA region
On June 20th 2017, hundreds of renewable energy enthusiasts from all over the world gathered to hear four leading experts discuss the impact of the recent DEWA CSP 200 bid on the MENA region. At 9.45 US$ cents per kWh for a 200 MW CSP plant with 18 hours of storage, the lowest bid presented in Dubai opens the possibility of replicating similar CSP bids across MENA, enabling countries across the region to harness the sun to produce clean and dispatchable energy at a competitive cost. Below are the highlights from this debate.
Sign up to the MENA CSP KIP newsletter to be updated about next events on http://bit.ly/2rTDqvF
Speakers: Jenny Paddy Padmanathan (ACWA Power), Stratos Tavoulareas (World Bank Group), Chase (BNEF), Frank Wouters (EU GCC Cooperation Council) Moderator: Belén Gallego (ATA Insights)
Key take aways from the webinar:
- CSP costs have come down from 29 Euro$ cents per kWh in 2007 to below 10 US$ cents per kWh now in only 5 GW of total CSP deployment
- Most viewers thought that in 2022 CSP would be within 6 and 10 US$ cents per kWh.
- Out of the speakers, Wouters and Padmanathan were the most bullish, arguing for a price range between 6 and 8 US$ cents per kWh by 2022 is achievable
- Padmanathan sees a clear path to CSP at 6 US$ cents per kWh in places like Jordan because further deployments will give EPC contractors more confidence, enabling them to reduce contingency risk margins
- In some markets CSP with thermal storage could be competitive at 10 US$ cents per kWh as oil ranges from 15 to 25 US$ cents per kWh
- Citing Jordan as an example of a country with a much higher direct normal irradiation (DNI) than the UAE the tariff would be 30% lower than in Dubai, other things being equal
- In Jordan you could potentially deliver dispatchable electricity at 10 US$ cents per kWh which is very competitive compared to the average cost of generation is in the twenties
- CSP is now able to outcompete shale gas in Jordan
- One of the main benefits of CSP is that it enables countries who rely on imported fossil fuels to reduce imports and therefore reducing price fluctuation risks
Sign up to the MENA CSP KIP newsletter to be updated about next events on http://bit.ly/2rTDqvF