UAE- Dewa, Acwa ink deals for Hassyan project
Date
6/7/2016 11:49:08 PM
(MENAFN- Khaleej Times) Saeed Mohammed Al Tayer, managing director and chief executive officer of Dubai Electricity and Water Authority, or Dewa, signed a Power Purchase Agreement, or PPA, and a Shareholders Agreement, or SHA, with Mohammad Abdullah Abunayyan, chairman of Acwa Power and representative of the ACWA Power and Harbin Electric consortium.
The agreement aims to implement the project to produce 2,400 megawatts (MW) of electricity using clean coal. The Hassyan clean coal power project uses the Independent Power Producer (IPP) procurement model on a Build Own Operate (BOO) basis. This follows the sending of a letter of intent to Acwa Power and Harbin Electric consortium on 19 January 2016 in which Dewa selected the best bidder. The signing was attended by Dewa's executive vice- presidents, and senior officials from both Acwa Power and Harbin Electric. The project will be supported by a 25-year PPA with Dewa and the bidder has been required to put in place a secure delivery of coal to the project over the 25-year life of the PPA. The first 2,400MW phase of the project comprises four 600MW units. The second 1,200MW phase of the project includes two 600MW units with ultra-supercritical technology. The project has a planned commercial operation date of March 2023. -
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