Solar plants that supply electricity at competitive prices after the sun goes down are about to become a reality in the Middle East, according to one of the region's biggest developers of power plants.
ACWA Power International Chief Executive Officer Paddy Padmanathan confirmed his company is the low bidder on a USD 1 billion project that will feed electricity to the grid for the Dubai Water & Electricity Authority between 4 p.m. and 10 a.m. More such plants are likely to follow because Chinese companies will start driving down the cost of equipment, he said.
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