South Korea’s Samsung C&T confirmed that it has been awarded the KW1.15tn ($953m) engineering, procurement and construction contract for the planned 2.4GW Fujairah F3 independent power producer project in the UAE.
The client is Japan’s Marubeni Corporation, which recently won the bid to develop the scheme.
Abu Dhabi Power Corporation and Marubeni formed a consortium and signed the power-purchase agreement for the scheme on 16 February.
The government of Abu Dhabi will indirectly own 60 per cent of the project company, while Marubeni will own the remaining 40 per cent.
Marubeni submitted the second-lowest bid of AED16.812 fils a kilowatt hour (fils/kWh) for the combined-cycle gas turbine scheme.
Emirates Water & Electricity Company (Ewec), a subsidiary of Abu Dhabi Power Corporation and the emirate's power off-taker, received six bids for the contract in October.
The team, led by France’s Engie, submitted the lowest bid of AED16.7901 fils/kWh.
France’s EDF and Japan’s Jera submitted a tariff price of AED17.109 fils/kWh for the F3 project.
Ewec expects to procure early power from the plant starting by the summer of 2022. The plant is expected to commence full generation by the summer of 2023.
F3 will be part of the power generation assets of Abu Dhabi Power Corporation that could be transferred to the Abu Dhabi National Energy Company (Taqa) as part of the recent proposed transaction.
A royal decree in November 2018 established Ewec, which replaced Abu Dhabi Water & Electricity Company as part of plans to unify water production and power generation between Abu Dhabi and the Northern Emirates.
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