Construction spend on Damac’s Dubai residential megaproject, Akoya Oxygen, hits $1.5bn
Middle East construction giant Damac Properties has awarded the latest building contract in its flagship Akoya Oxygen project to China State Construction Engineering Corporation (CSCEC).
The work, valued at $19.6mn, will see the Chinese state-backed firm carry out major work at Victoria, Avencia and Amargo clusters which consist of 1,623 villas.
Total contracted work on the complex, situated near the Trump International Golf Course in Dubai, has now passed the $1.5bn mark, with the first residents expected to move in by the end of this year.
- Construction projects for Dubai’s Expo 2020 initiative reach $42.5bn
- Dubai Electricity and Water Authority signs MoU to boost green building credentials
- Read the latest edition of Construction Global magazine
Ali Sajwani, General Manager of Operations at DAMAC Properties, said: “This latest contract award to CSCEC will see major road and infrastructure work being carried out at three clusters within AKOYA Oxygen, providing access and services to support 1,623 villas.
“We are pleased to further strengthen our relationship with CSCEC, as we accelerate development in almost every part of our largest master community which will start to welcome its first residents at the end of 2018.”
Much of the building work is being carried out by Arabtec, which in March this year won a contract to build 916 villas, adding to the 1,296-villa contract it won in August 2017.
As well as accommodation, AKOYA Oxygen will offer residents with amenities such as luxury shopping arcades, five-star hotel and suites, and an organic market. The community will also include conveniences such as mosques, clinics, schools, nurseries, and restaurants.
Sonnedix starts construction of 50MW solar plant in Spain
Sonnedix has started building a 50MW solar PV plant in Badajoz, Spain.
Sonnedix Los Frailes will be built on a 111-hectares, becoming the largest project built by the IPP in the country, where it has operated since 2010. With over 110,000 monocrystaline solar panels, the project will connect through a transmission line to the Vaguadas substation.
During construction, Sonnedix will create approximately 250 new jobs in Badajoz, in line with its ESG standards and commitment to improving the life of the local community.
Once operational, Sonnedix Los Frailes, which is being developed in collaboration with Viridi RE group, will produce approximately 102,000 MWh per year, capable of powering more than 36,500 homes with clean electricity and avoiding over 24,000 tons of CO2.
Axel Thiemann, CEO of Sonnedix, said: “We are excited to start the construction of our largest project to date in Spain, a milestone that highlights both our strong commitment to the Spanish market, and our potential to expand our platform worldwide. We are very proud of our hard-working and committed team in Spain, which has doubled in the last year, and we look forward to continue developing and acquiring solar PV projects in the country, playing an important role in the energy transition, as well as the post-pandemic economic recovery.”
Last June 2020, Sonnedix signed a 10-year Power Purchase Agreement (PPA) with Europe´s largest producer of renewable energy and leading PPA provider Statkraft for the supply of 100 GWh of energy per year, making it the IPP’s first PPA for a grid-parity project in Spain.
Sonnedix is one of the leading solar IPPs in Spain, with over 1GW of capacity, including 365MW operational, 50MW under construction, and a development pipeline of over 600MW. Currently it has almost 2GW under operation or construction across eight countries, plus more than 2GW in the pipeline.
According to SolarPower Europe, Spain is expected to have a total installed solar PV capacity of 29GW by 2024 in the medium scenario, making it the second largest solar market in Europe. Renewables produced 50.7% of Spain’s electricity in May, generating 10% more gigawatt-hours year-on-year.
The Spanish National Energy and Climate Plan (NECP) targets 74% of renewable electricity generation and 39.2 GW of PV capacity by 2030.