UAE Vice President and Prime Minister and Dubai Chief Sheikh Mohammed bin Rashid Al Maktoum is the Dubai Solar Park Mohammed bin

The foundation of the fourth phase of Rashid Al Maktoum Solar Park. This is the world's largest centralized solar energy (CSP) investment project based on the Independent Power Producer (IPP) model, with a single station generating capacity of 700 MW. It will have the world’s highest 260-meter solar tower and the world’s largest thermal energy storage capacity. Upon completion, it will provide clean energy to 270,000 households and reduce carbon emissions by 1.4 million tons per year. The project will use two technologies: a 600MW parabolic basin complex and a 100MW solar tower over 43 square kilometers. The project's investment amounted to 14.2 billion UAE dirhams, achieving a minimum levelized cost of electricity (LCOE) of 7.3 cents per kilowatt-hour.