The group will take a 40 per cent stake in the project company, with the remainder divided between QP and Qatar Electricity & Water Company.

The plant will have capacity of 2,730MW of power and 63 million gallons a day of desalinated water.

The estimated investment cost of the project is $3.7bn. The electricity and water produced from the plant will be bought by Qatar General Electricity & Water Corporation (Kahramaa) under a 25-year power and water purchase agreement.

The project company’s total revenues are expected to amount to $22.7bn over 27 years (MEED 12:3:08).