Winning developer/consortium will get to own a 60% stake in the Ras Al Khair company
Winning developer/consortium will get to own a 60% stake in the Ras Al Khair company
Request for proposals (RFP) have been issued to seven prequalified bidders to participate in the potential privatisation of the Ras Al Khair integrated desalination and power plant, the Saline Water Conversion Corporation (SWCC) has stated.
The developer/developer consortiums in the running include Acwa Power, Engie, NTPC, in addition to Marubeni Corporation and Jera Company. China Power International Holding/Ajlan & Bros Energy Company and China Huadian Hong Kong Company/Beijing Enterprises Water Group (BEWG) are also said to be in the running.
The winning bidder will get to own a 60% stake in the Ras Al Khair company, which will be responsible for the management, operation and maintenance of the plant. It is an operating asset with 1.05m cu/m desalination capacity and 2.65GW of power capacity, a statement from SWCC said.
A majority sale is envisaged with the proposed contractual structure in line with market standard IWPP/IWP framework in the Kingdom. The incoming investor will also have the option to take over operation and maintenance (O&M) of the plant, the statement explained.
Ras Al Khair has been selected as the first asset for privatisation as part of the larger privatisation of SWCC’s production assets, which is overseen by the Privatisation Supervisory Committee for the water sector of Saudi Arabia, the statement explained.
