Mar. 14. 2012
Marubeni Corporation (“Marubeni”) is pleased to announce that the Shuweihat S2 IWPP project in Abu Dhabi has achieved Project Commercial Operation Date, effective from 18 October 2011.
This project located at 250 km south west of the city of Abu Dhabi, includes the construction of 1,510 MW power and 100 MIGD seawater desalination plant. Under the 25-years PWPA, all power and water production capacity will be sold to Abu Dhabi Water and Electricity Company wholly owned by the governmental entity, Abu Dhabi Water and Electricity Authority. The plant is operated and maintained by the consortium of Marubeni (25%), Osaka Gas Co., LTD(25%) and International Power GDF Suez(50%).
The plant is constructed by the consortium of Siemens AG, Samsung C&T Corporation and Doosan Heavy Industries and Construction Co., Ltd. in full turnkey basis. The construction work has been started in December 2008.
The loan agreement took the form of co-financing between Japan Bank for International Cooperation (JBIC) and commercial banks including Japanese commercial banks namely, Sumitomo Mitsui Banking Corporation, The Bank of Tokyo-Mitsubishi UFJ Ltd., Mizuho Corporate Bank, Ltd. and The Sumitomo Trust and Banking Co., Ltd.
Marubeni has four independent power (and water) projects in ADWEA’s eight power (and water) projects; Taweelah B IWPP, Fujairah F2 IWPP, Taweelah A2 IWPP and Shuweihat S2 IWPP. These four projects are all in good operation.
Marubeni will be expanding I(W)PP business with selection and concentration in the Middle East where the power and water demand is growing.