Dow and Shanghai Electric Collaborate on A World-scale Concentrated Solar Power Project

MIDLAND, Mich.– March 26, 2019 – Dow recently signed sales and service contracts with Shanghai Electric to provide industry-leading DOWTHERM™ A Heat Transfer Fluid and on-the-ground services for a world-scale 700MW concentrated solar power (CSP) and 250MW photovoltaic (PV) hybrid project in Dubai, United Arab Emirates. Once complete, this 950-megawatt project will provide clean energy to more than 270,000 homes in Dubai while helping to reduce over 1.4 million metric tons of carbon emissions per year. Additionally, this project will provide a very low levelized electricity cost of 7.3 US cents per kilowatt-hour, bringing an increasingly competitive position for CSP technology in energy generation versus other sources.

"This strategic partnership will bring together industry-leading strengths of Shanghai Electric with Dow’s rich expertise in the design, handling and transport of heat transfer fluids. With our history of successful concentrated solar power projects across the globe, and our strong global capabilities, we are excited to play an essential role in advancing this project of the Dubai Electricity and Water Authority while supporting improved carbon emissions,” said Ester Baiget, business president, Dow Industrial Solutions.

“We look forward to starting this exciting project and seeing the contribution it will make to the advancement of the concentrated solar power industry and the wider clean energy and green economy. As sustainability is at the core of corporate strategy for both Dow and Shanghai Electric, we hope to build on this partnership and collaborate on more clean energy projects in China as well as other Asia Pacific markets in the future,” said Cao Min, President of Shanghai Electric Power Generation Group.

A consortium comprising of Saudi Arabia’s ACWA Power and China’s Shanghai Electric was earlier awarded the contract of engineering, procurement, and construction of the 700-megawatt CSP project and an additional 250-megawatt photovoltaic project by the Dubai Electricity and Water Authority (DEWA). The 700-megawatt CSP project will be composed of a 600-megawatt parabolic basin complex (three CSP plants adopting trough technology, 200 megawatt each) and a 100-megawatt solar tower. Under the terms of the sales and service contracts between Dow and Shanghai Electric, Dow will be the sole supplier of heat transfer fluids for the three CSP trough plants in three phases through 2022.

Dow has over 80 years of experience in the heat transfer field. A synthetic organic fluid featuring superior thermal stability, DOWTHERM™ A Heat Transfer Fluid is capable of withstanding temperatures as high as 400 degrees Celsius to collect, transport, and store heat in CSP systems. Compared to lower purity heat transfer fluids at 99.5%, DOWTHERM™ A has a 99.9% purity, which is essential for increasing fluid lifetime and significantly reducing maintenance and operating costs in CSP plants. Its proven performance has won wide recognition in the industry and made it the choice of over 40 large-scale CSP plants worldwide. These CSP plants have a combined capacity to cater the electricity needs of more than one million homes, which translates into a reduction of approximately five million metric tons of carbon dioxide emissions annually.

As the phase IV of the Mohammed bin Rashid Al Maktoum Solar Park, the DEWA project is the one of the world’s largest CSP/PV projects with an investment of USD 3.9 billion and a design capacity of 950 megawatt. It boasts a very low Levelised Cost of Electricity (LCOE) of 7.3 US cents per kilowatt-hour for concentrated solar power.

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Dow combines science and technology knowledge to develop premier materials science solutions that are essential to human progress. Dow has one of the strongest and broadest toolkits in the industry, with robust technology, asset integration, scale and competitive capabilities that enable it to address complex global issues. Dow’s market-driven, industry-leading portfolio of advanced materials, industrial intermediates and plastics businesses deliver a broad range of differentiated technology-based products and solutions for customers in high-growth markets such as packaging, infrastructure, and consumer care. Dow is a subsidiary of DowDuPont (NYSE: DWDP), a holding company comprised of Dow and DuPont with the intent to form three strong, independent, publicly traded companies in agriculture, materials science and specialty sectors. More information can be found at www.dow.com.