GDF SUEZ signs Power & Water Purchase Agreement for the Mirfa Project in Abu Dhabi | GDF SUEZ signs Power & Water Purchase Agreement for the Mirfa Project in Abu Dhabi -
GDF

GDF SUEZ signs Power & Water Purchase Agreement for the Mirfa Project in Abu Dhabi

: Saturday, July 05 - 2014 @ 13:03

GDF SUEZ is pleased to announce that it has signed the 25-year Power and Water Purchase Agreement (PWPA) for the Mirfa Independent Water and Power (IWPP) project with the Abu Dhabi Water and Electricity Company (ADWEC), the Single Buyer and Seller of Water and Electricity of Abu Dhabi. GDF SUEZ holds a 20% equity interest in the project with the remaining 80% held by ADWEA (Abu Dhabi Water and Electricity Authority).

Located 120 km from Abu Dhabi, the Mirfa project is the Emirate’s tenth facility to be built under the Public-Private Partnership model. The project will involve the acquisition of certain existing water and power facilities, the development, design, engineering and construction of new power and water facilities, as well as the operation of the plant. When finished, and with the existing and new facilities fully integrated, Mirfa IWPP will have a total power capacity of 1,600 MW and a seawater desalination capacity of 52.5 MIGD (238,665 m3/day).

Gerard Mestrallet, Chairman and CEO of GDF SUEZ, said: “We are pleased to successfully formalise the framework for our exclusive partnership with ADWEA for the Mirfa project, our sixth development in the United Arab Emirates. This new project will allow us to pursue our growth strategy in the region and to meet the increasing demand for both electricity and water in the United Arab Emirates.”

GDF SUEZ has selected a turnkey EPC contractor consortium comprising Hyundai Engineering & Construction Co. Ltd and Hyundai Engineering Co. Ltd. from Korea and Ansaldo Energia SpA from Italy. Degremont, a subsidiary of SUEZ Environnement, will be responsible for the new seawater Reverse Osmosis (RO) facility as a subcontractor to the EPC contractor. Commercial operation of the project is expected on a phased basis between 2016 and 2017. The project is targeted to satisfy Abu Dhabi’s rising demand for electricity and water as well as supporting the development of the UAE’s Northern Emirates.

The project will be built at a capital cost of approximately USD 1.5 billion funded by a mix of debt and equity. The debt requirement for the project shall be met through funding from a combination of local and international banks, with commitments currently oversubscribed.

GDF SUEZ in the United Arab Emirates (UAE) and the Gulf Cooperation Council region (GCC)

GDF SUEZ has five power and water plants in operation in the UAE: Al Taweelah A1, Shuweihat S1, Umm Al Nar, Fujairah F2 and Shuweihat S2. Together these assets contribute 8.8 GW of power and 557 MIGD (2,500,000 m3/day) of desalinated water. Once the Mirfa project is completed, GDF SUEZ will operate 10.4 GW (gross) power capacity and 609.5 MIGD (gross) (2,770,000 m3/day) water capacity.

In the GCC, GDF SUEZ has a direct equity interest in a regional portfolio of 27 GW of power capacity and 5,273,000 m³/day of desalination capacity in operation and under construction, which makes it the region’s leading independent power and desalinated water producer.

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Saturday, July 5- 2014 @ 13:03 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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