Financial closure achieved for Dubai coal power project

WCN Editorial Team 13 Dec 2016 MIDDLE EAST ENERGY & UTILITIES

Dubai Electricity and Water Authority (DEWA) has achieved financial closure for the 2.4GW Hassyan clean coal power project in Dubai.

The $3.4bn project will utilise ultra-supercritical technology and involve the construction of four 600MW net power units, expected to be operational from March 2020, March 2021, March 2022, and March 2023, respectively.

DEWA’s managing director and CEO Saeed Mohammed Al Tayer said: “The Hassyan clean coal power project underlines DEWA’s commitment to achieving the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to diversify the energy mix.

“It also reflects DEWA’s commitment to achieving the Dubai Clean Energy Strategy 2050, which focuses on producing electricity from clean coal as part of Dubai's energy mix. DEWA works to achieve the fifth pillar of the Dubai Clean Energy Strategy 2050, which focuses on creating an environmentally-friendly energy mix, with 25% from solar energy, 7% from nuclear power, 7% from clean coal, and 61% from gas by 2030.”

The plant — to be the first-of-its-kind in the region — will be constructed on a build-own-operate (BOO) basis and will be executed by a joint venture between DEWA and ACWA Power and Harbin Electric consortium.  The parties have signed a 25-year power purchase agreement for the project in June 2016.

 

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