A consortium of Abu Dhabi National Energy Company, Japan's Marubeni and South Korea's SK E&S Company is the lowest bidder for the estimated USD 1.3 billion Hassyan 1 independent power project.

TAQA spokesman said that the bidding took place on Monday and negotiations will start next week. TAQA, Marubeni and SK E&S will together own 49% of the project company while Dubai Electricity & Water Authority will own the remaining 51%. Switzerland's Alstom and Samsung Engineering are the engineering, procurement and construction partners of the consortium.

The Hassyan 1, the first of 6 planned IPPs in Dubai, is a Greenfield combined cycle gas turbine power plant with a capacity of 1600 MW. It will be developed on a build own operate basis and the electricity will be sold via a 25 year power purchase agreement to DEWA the state owned utility.

Located 60 kilometers South West of Dubai in the United Arab Emirates, Hassyan 1 is the first of six planned IPPs in Dubai that will form a power and water complex with total capacity of 9000 MW of power generation and 720 million gallons per day of desalinated water.

(Sourced from Reuters)