The prequalification list contains a number of newcomers to an ADWEA IWPP, with the majority drawn from Hong Kong, India and Malaysia. Most of the prequalifiers are expected to form groups to bid for the project.
Under its tendering schedule, ADWEA is aiming to shortlist bidders by 10 December, sign the key project agreements in February 2006 and achieve financial close in early May 2006. The project involves a new project company, in which the selected foreign developer will hold a 40 per cent interest, acquiring the existing 662-MW and 100 million-gallon-a-day Fujairah co-generation plant and expanding it on a build-own-operate (BOO) basis. The new build will involve the installation of about 225 MW of generating capacity.
The advisory team on Fujairah consists of Germany’s Fichtner
(financial), White & Case
(international, legal) and the local Simmons & Simmons