Emirates Water and Electricity Company (EWEC) has requested expressions of interest (EOIs) for the development, finance, operation and construction of a new power plant in Fujairah.
The 2,000MW Fujairah combined-cycle gas turbine (CCGT) project is said to be a major independent power project (IPP) for the country, and is billed as a key part of meeting the electricity needs of Abu Dhabi and the northern emirates.
The CCGT power plant will be developed in the Fujairah power and water complex and will be implemented on the Abu Dhabi IWPP Programme. It will be structured as a stand-alone independent power project. The EOI request also stipulated maintenance and ownership of the IPP.
The project will support an ongoing cost reduction initiative in the sector, through the procurement of competitive and efficient CCGT technology, EWEC said in a statement.
As per the terms of the contract, the developer or the consortium will own up to 40% of the SPV, while the remaining equity will be held directly or indirectly by the Emirati utility. The SPV also will enter into a long-term power purchase agreement (PPA) with EWEC, the single buyer of electricity and water capacity within Abu Dhabi.