Dubai will implement the world’s “largest” concentrated solar power (CSP) plant, Invest-Gate reports.

The AED 14.2 bn project will have a total capacity of 700 megawatt and will feature a 260-meter- solar power tower, Sheikh Mohammed bin Rashid, Ruler of Dubai, reveals in a tweet on September 16.

The project’s contract was awarded to a consortium, comprising China’s Shanghai Electric and Saudi Arabia’s ACWA Power.

The project is part of a mission to rely on renewable energy for 75% of Dubai’s needs by 2050.

A fund worth AED 100 bn has been set up for this strategy to build more efficient smart grids.