French electric multinational company GDF Suez has signed a 25-year power and water purchase agreement with Abu Dhabi Water and Electricity Supply Company (ADWEA) for the Mirfa Independent Water and Power Project
The US$1.5bn project, located 120km from Abu Dhabi, would involve the acquisition of water and power facilities, as well as the development, engineering and construction of new water and power facilities and general operations of the plant.
Once completed, the Mirfa project will generate 1,600MW of power and 270,000 cubic metres of fresh water every day, stated officials from GDF Suez.
The company, which is a 20 per cent equity holder in the Mirfa project, has also chosen a turnkey engineering, procurement and construction (EPC) consortium comprising South Korea?s Hyundai Engineering & Construction and Hyundai Engineering, and Italy?s Ansaldo Energia Spa.
Gerard Mestrallet, chairman of GDF Suez, said, ?This new project will allow us to pursue our growth strategy in the region, as well as meet the increasing demand for electricity and water in the UAE.?
The French firm currently operates five power and water plants in the UAE ? Al Taweelah A1, Fujairah F2, Umm Al Nar, Shuweihat S1 and Shuweihat S2 ? that contribute 8.8GW of power and 2.5mn cubic metres of water a day.
Due to a booming economy and rapid industrialisation, Saudi Arabia?s water and power demands are rising at a rate of 10 per cent annually. Abu Dhabi is focusing on several PPP power and water projects to balance the needs of the emirate.
