News
Masdar To Begin Sixth Phase Of Dubai’s Massive Solar Park
The project will add 1,800 megawatts of power, making Rashid Al Maktoum Solar Park the largest single-site facility in the world.
With the United Arab Emirates setting an ambitious goal to generate 25% of its energy from renewables by 2030 and 100% by 2050, the government has awarded $1.5 billion to Masdar to build phase six of the Mohammed bin Rashid Al Maktoum Solar Park.
“When completed, the solar park will reduce over 6.5 million tonnes of carbon emissions annually,” said Saeed Mohammed Al Tayer, MD & CEO of DEWA.
The total capacity of solar generation at the site has now reached 2,427 MW. With the latest phase adding another 1,800 megawatts, total production capacity will soon be boosted to 4,660 MW, making the park the largest single-site facility in the world.
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Phase five of the Rashid Al Maktoum Solar Park was inaugurated in June and is expected to power 270,000 homes and offset over 1 million tonnes of CO2 annually.
“We are striving to achieve the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to transform Dubai into a global hub for clean energy and green economy,” said Al Tayer.
News
Dirham-Backed Stablecoin DDSC Enters Live Phase In UAE
Central Bank approval moves the dirham-backed token into deployment, targeting regulated payments and settlement flows.
The UAE has cleared the launch of DDSC, a dirham-backed stablecoin now entering live operation after approval from the Central Bank. The move pushes the project beyond its pilot phase and into the country’s regulated financial system.
The token is backed by a consortium led by IHC, Sirius International Holding and First Abu Dhabi Bank (FAB), framing it as an institutional instrument rather than a consumer crypto product. DDSC was first announced in April 2025, but regulatory clearance now allows deployment and integration across approved channels.
DDSC runs on ADI Chain, a Layer 2 blockchain built by the Abu Dhabi-based ADI Foundation. The infrastructure is designed for governance and performance requirements expected by large institutions, linking blockchain settlement with existing compliance and oversight frameworks.
The focus is practical, targeting treasury settlements, high-value payments, trade and supply-chain transactions, and programmable financial flows for regulated entities. FAB plans to offer access to the token through approved platforms for its clients, keeping the rollout inside controlled banking environments.
“DDSC marks a defining milestone in the UAE’s digital finance journey,” said Syed Basar Shueb, CEO of IHC. “With the Central Bank’s approval and our transition into live operation, we are delivering trusted, institutional-grade infrastructure that strengthens resilience, accelerates innovation, and expands what is possible in regulated digital payments”.
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FAB says the project reflects how stablecoins can sit within traditional finance when risk controls are built in from the outset. “This milestone underscores that stablecoins can be integrated responsibly into the financial system when built to meet rigorous regulatory and risk requirements,” said Futoon Hamdan AlMazrouei, Group Head of Personal, Business, Wealth and Privileged Client Banking Group at FAB.
The launch reinforces the UAE’s strategy of pushing digital finance through regulation instead of open-ended crypto experimentation. Stablecoins in this model are positioned less as trading assets and more as programmable extensions of national currency, aimed at institutional scale and government use cases.
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