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Abu Dhabi Electric Power Company (ADPower) and Japan-based Marubeni have announced the formation of a consortium to develop the Fujairah F3 Independent Power Producer (IPP) project in Fujairah, which will be the largest independent thermal power plant
in the UAE.
A few days ago, the two companies held a signing ceremony
at the headquarters of the Emirates Hydropower Company (EWEC).
Jasim Husain Thabet, CEO and Managing Director of ADPower, Yoshiaki Yokota, Chief Operating Officer of Marubeni Corporation's Power Business Unit, and Othman Al-Ali, CEO of EWEC attended the signing ceremony
.
The Fujairah F3 IPP project includes the development, financing, construction, operation, maintenance and ownership of the combined cycle gas turbine (CCGT) power plant, as well as the associated infrastructure
.
The Fujairah F3 IPP project is located between the existing Fujairah F1 and Fujairah F2 hydroelectric power plants with a contracted generation capacity of 2.
4 GW, and its construction brings ADPower's current generation capacity to 20.
4 GW
.
Once operational, the Fujairah F3 IPP project will be able to power
380,000 homes.
Thabet, CEO of ADPower, said: "We aim to transform Abu Dhabi's water and power sector into a reliable, efficient, sustainable and value-creating system to optimise our strong portfolio of assets and create unique partnership opportunities
.
The F3 IPP project represents an important milestone in this process, adopting world-class technology and efficiency standards to meet the UAE's evolving energy needs
.
”
Al-Ali, CEO of EWEC, said: "The Fujairah F3 IPP project will use one of the most efficient and advanced CCGT technologies available in the region, generating energy in line with
the CO2 reduction targets of the UAE Energy Strategy 2050.
It will play a strategic role in the growth and development of the UAE, providing safe and reliable electricity to meet the needs of
consumers in Abu Dhabi and the UAE.
”
In early 2019, EWEC received 30 expressions of interest from potential bidders for the F3 IPP project in Fujairah, 20 of which were approved to bid
.
Through this project, the Abu Dhabi government will indirectly own 60% of the shares of the project, while the remaining 40% will be owned
by Marubeni Corporation.
The construction of the Fujairah F3 IPP project, currently the largest CCGT power plant in the UAE, is expected to start up quickly to enable EWEC to have access to power by summer 2022 and full capacity operation
by summer 2023.
Abu Dhabi Electric Power Company (ADPower) and Japan-based Marubeni have announced the formation of a consortium to develop the Fujairah F3 Independent Power Producer (IPP) project in Fujairah, which will be the largest independent thermal power plant
in the UAE.
A few days ago, the two companies held a signing ceremony
at the headquarters of the Emirates Hydropower Company (EWEC).
Jasim Husain Thabet, CEO and Managing Director of ADPower, Yoshiaki Yokota, Chief Operating Officer of Marubeni Corporation's Power Business Unit, and Othman Al-Ali, CEO of EWEC attended the signing ceremony
.
The Fujairah F3 IPP project includes the development, financing, construction, operation, maintenance and ownership of the combined cycle gas turbine (CCGT) power plant, as well as the associated infrastructure
.
The Fujairah F3 IPP project is located between the existing Fujairah F1 and Fujairah F2 hydroelectric power plants with a contracted generation capacity of 2.
4 GW, and its construction brings ADPower's current generation capacity to 20.
4 GW
.
Once operational, the Fujairah F3 IPP project will be able to power
380,000 homes.
Thabet, CEO of ADPower, said: "We aim to transform Abu Dhabi's water and power sector into a reliable, efficient, sustainable and value-creating system to optimise our strong portfolio of assets and create unique partnership opportunities
.
The F3 IPP project represents an important milestone in this process, adopting world-class technology and efficiency standards to meet the UAE's evolving energy needs
.
”
Al-Ali, CEO of EWEC, said: "The Fujairah F3 IPP project will use one of the most efficient and advanced CCGT technologies available in the region, generating energy in line with
the CO2 reduction targets of the UAE Energy Strategy 2050.
It will play a strategic role in the growth and development of the UAE, providing safe and reliable electricity to meet the needs of
consumers in Abu Dhabi and the UAE.
”
In early 2019, EWEC received 30 expressions of interest from potential bidders for the F3 IPP project in Fujairah, 20 of which were approved to bid
.
Through this project, the Abu Dhabi government will indirectly own 60% of the shares of the project, while the remaining 40% will be owned
by Marubeni Corporation.
The construction of the Fujairah F3 IPP project, currently the largest CCGT power plant in the UAE, is expected to start up quickly to enable EWEC to have access to power by summer 2022 and full capacity operation
by summer 2023.
