The Associated Press reports that Dubai’s state energy utility awarded a $3.9 billion contract to build and run a 700-megawatt solar power plant to Shanghai Electric and Saudi Arabia’s ACWA Power.

The project will feature a 260-meter (850-foot) tower receiving focused sunlight, the world’s tallest such tower.

The consortium bid to supply electricity to Dubai for 7.3 U.S. cents per kilowatt-hour.

The first stage of the project is due to be commissioned in late 2020.

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