State utility Dubai Electricity & Water Authority (Dewa) is preparing to invite developers to submit expressions of interest (EOI) for the next phase of its Hassyan coal-fired power project.
According to sources close to the project, the client is preparing to invite EOI imminently, and has set a target to launch the prequalification process at the end of September.
The third phase of the Hassyan coal scheme will be developed under an independent power producer (IPP) model, and is expected to have a capacity of 1,200MW. When completed, the Hassyan coal project is scheduled to have a total capacity of 3,600MW, with 2,400MW currently under construction.
MEED reported in July that Dewa had appointed US-based Deloitte as the lead adviser for the planned third phase of the coal project.
In June 2016, a consortium led by Saudi Arabia’s Acwa Power and China’s Harbin International was awarded the contract to develop a 2,400MW clean coal-fired plant at the Hassyan site. Financial close for the $3.4bn project was reached in September 2017.
The shareholders in the project company for the first 2,400MW are:
- Dewa (51 per cent)
- Acwa Power (27 per cent)
- Harbin International (14.6 per cent)
- Silk Road Fund (Chinese sovereign wealth fund) (7.4 per cent).
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