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Abu Dhabi to invite power project bids by year end

Monday, 08 Jun 2009 Reuters reported that Abu Dhabi will be inviting international companies to bid for its ninth independent water and power project the Taweelah C project, by year end at the latest.

Mr Abdulla Saif Al-Nuami director of privatization at the Abu Dhabi Water & Electricity Authority said that the request for proposals will be issued soon after the refinancing for its eighth IWPP Shuweihat 2 is closed.

He said that “It will be after summer, certainly before the year end. It could be October or November this year. The Taweelah C project will have capacity of at least 1500 MW of power and 100 million gallons per day of water.”

Mr Al Nuami said that refinancing for the Shuweihat 2 project is moving ahead with several banks expressing interest. The project is owned 60 percent by Adwea and 20% each by GDF Suez and Marubeni Corporation. He said that “There is good response from banks and we expect to close the financing by October.”

Abu Dhabi expects power demand to more than triple by 2020 and the government is considering nuclear power plants as a long term option to meet demand. Germany’s Fitchner is technical advisor and HSBC will act as financial advisor for the project.

Adwea said that in the short term, power demand growth in Abu Dhabi is expected at around 17% to 20% per year. Longer term power demand growth should average out at around 7% to 8% a year through 2030.

(Sourced from Reuters)