01 June 2011

THE Dubai Electricity and Water Authority (Dewa) has invited 18 selected developers to participate in the 1,500 MW Hassyan I independent power project (IPP) following the expression of interest for the project published in March this year.

Hassyan 1 will be Dubai’s first ever private power plant. To be built in Jebel Ali, it will generate 1,500 MW of power and 120 gallons of desalinated water when complete.

The selection of the developers was based on the statements of qualification (SOQs) received from 20 developers in response to a request for qualification (RFQ) issued by Dewa and its advisor in April to 27 developers who had shown interest in the project.

Dewa said the milestone comes within the context of creating and developing areas of investment to encourage the private sector’s engagement in strategic projects and to establish a business model which depends on the competitiveness and latest available technologies designed to provide the future energy needs of Dubai while considering the environmental aspects.

Saeed Mohammad Al Tayer, managing director and chief executive officer of Dewa, pointed out that the company’s initiatives were in line with the directives of Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice-President and Prime Minister, and Ruler of Dubai, aiming to consolidate Dubai’s position as a leader in the region and strengthen its role as a global economic and financial pole.

“The request for proposal (RFP) will cover general instructions to the bidder, minimum functional specification, shareholder agreement, power purchase agreement as well as Dewa’s IWPP code,” he said.

Al Tayer noted that the successful bidder – whether a single developer or consortium – will ultimately own 49 per cent of a company that will be formed to own the Hassyan I project. The balance of 51 per cent will be owned directly or indirectly by Dewa.

The bids are expected to be submitted by October 2011 and the contract with the successful bidder is expected to be signed by the end of 2011.

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