(Bloomberg) –Dubai Electricity & Water Authority selected a contractor that submitted a “record” low bid to build a 900-megawatt solar-power plant in the emirate, Chief Executive Officer Saeed Mohammed Al Tayer said.

The contractor, which Al Tayer declined to identify, bid 1.7 cents per kilowatt-hour for the photovoltaic plant. The decision requires a lengthy evaluation before DEWA can publicly announce the winner, he said Sunday in an interview.

H.E Saeed Mohammed Al Tayer, MD&CEO of DEWA

The bid “is the lowest price worldwide,” Al Tayer said. DEWA required offers of less than 2.4 cents per kilowatt-hour. The plant will be the fifth phase of a sprawling facility in in the desert outside Dubai — the Mohammed bin Rashid Al Maktoum Solar Park, which will have 5 gigawatts of installed capacity by 2030 if DEWA completes it as planned.

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The United Arab Emirates, of which Dubai is the financial hub, had 594 megawatts of installed solar capacity at the end of 2018 — more than any other country in the Persian Gulf region, according to the International Renewable Energy Agency. Dubai is on track to produce 7% of its electricity from solar power by 2020 and targets meeting 75% of its needs from solar and other renewables by 2050, according to the U.A.E.’s clean energy strategy.

DEWA awarded a contract for the Dubai solar park’s fourth phase in 2017. ACWA Power International and Shanghai Electric Group Co. submitted the lowest offer for that phase, at 7.3 cents per kilowatt-hour.