Dubai is a pretty vibrant and influential city. Dubai's world-class infrastructure has already established it as a significant player in terms of tourism, trade and has attracted many foreign investors in the world.
The highest building Burj Khalifa, along with the princess Tower Marina 101, and various others are the proof the real estate business in Dubai is proliferating.
The Work-Frame of DEWA
Dubai Electricity and Water Authority announced that it had issued a tender for the fifth phase of the Solar Park.
Under the Tender, the fifth phase will give nine hundred MW (megawatts) of electricity utilizing photovoltaic solar panels based on the IPP (independent power project) model.
The move supports the objective of Dubai Clean Energy Strategy 2050 to provide seventy-five per cent of Dubai's total energy output from clean energy by 2050. The time limit to submit the tenders on August 22 with the winning bid owing forty per cent of the company running the project, and DEWA owning the left sixty per cent.
The winning bidder will have to sign an agreement with the DEWA to buy the generated power for twenty-five years.
DEWA said it received letters of the intent for the Tender from sixty-four companies, additional, that the fifth phase of the solar park would be employed in stages beginning from the second quarter of 2021.
The Mohammed bin Al Maktoum Solar Park is the biggest single-site solar park of its kind in the world. It will have a capacity of five thousand MW by 2030 with an investment of AED fifty billion.
Saeed Mohammed Al Tayer's View
Saeed Mohammed Al Tayer is the managing director, and CEO of DEWA and his words upon this matter was that they are committed to completing the phases of the Solar Park to the highest standards of international norms with the latest solar power technologies.
DEWA is working to evolve Dubai into a global hub for green economy and clean energy, to make in the city with the lowest carbon footprint in the world.
The Thirteen MW phase became operational in 2013 utilizing photovoltaic solar panels while the two hundred Megawatts photovoltaic second phase of the solar park was operational in March 2017.
The eight hundred MW photovoltaic third phase will be operational by 2020, while the fourth phase will present the tallest solar tower in the world.
Benefits of Setting up Industry in Dubai
By incorporating an industry in Dubai, you will be able to gather the below-mentioned benefits.
- No Personal tax
- Well-structured network and connectivity that eases the business flow
- Committed like Mainland, Free Zones and Offshore for establishment process
- Hundred per cent repatriation of Capital Invested and Profits Earned
Have you decided on your type of business organization? Well, in Dubai there are eight kinds of business organizations
- Sole Proprietorship
- Joint Venture
- Partnership en-Commendam
- General Partnership
- Professional Company
- Private Shareholding
- Public Shareholding
- Limited Liability Company
At Commitbiz, we look after the essential needs of our clients. Since inception, we have dealt with many clients around the world, dealing in various business industries. Our business experts are well-versed with legal processes, as well as the incorporation and will help you to complete the process in a hassle-free way. For further discussion, do contact us-we'd be glad to assist.