Dubai Electricity and Water Authority (DEWA) has signed a power purchase agreement (PPA) with Abu Dhabi Future Energy Company (Masdar) for the third phase of a solar park in Dubai, at a rate of $29.90/MWh, reported Renew Economy. The third-phase of the park will enter operation in 2020, but the entire solar complex is planned to reach full production capacity by 2030.

The PPA is based on the Independent Power Producer (IPP) model, similar to DEWA’s 1,000MW concentrated solar power (CSP) complex scheduled to come online in 2030, according to Kallanish Energy.

The deal, which is believed to set the lowest solar power price worldwide, will cover 800MW of the 5,000MW at Mohammed bin Rashid Al Maktoum Solar Park. Furthermore, the solar park is designed to contribute to the Dubai’s Clean Energy Strategy 2050, which states that the country will produce 7% of its energy from renewables by 2020, 25% by 2030, and 75% by 2050.