By Andy Sambidge
Dubai's state utility to reveal winner of its first private power plant project early in 2012
Dubai Electricity and Water Authority (DEWA) said on Tuesday it would announce the winning bid for its first private power plant project in February next year.
DEWA said it has received four bids from international consortia to construct the Hassyan 1 Power Project with the capacity of 1,600 megawatts.
The first consortium is led by Abu Dhabi's Taqa, Marubeni Corporation, SK E&S Co. Ltd while the second consortium is led by GS Engineering & Construction Corp.
The International Company for Power & Water Projects, KEPCO, and Samsung C&T comprised the third consortium and the fourth consortium comprises QEWC, QPI, and Siemens Project Ventures, DEWA said in a statement.
On Monday, a TAQA spokesperson said its consortium was the lowest bidder for the estimated $1.3bn project.
The selected bidder will own 49 percent of the project, while DEWA will retain 51 percent.
"This will provide for the future energy needs of the Emirate of Dubai, and takes into consideration all the procedures that can conserve and protect the environment," DEWA said.
"We expect to conclude the assessment of these four bids by February 2012, after which the winner will be announced," its statement added.
The Hassyan project is the first of six phases of the privatisation programme which has a target to produce 10,000 megawatts of electricity.For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Our company see this as a "win-win", as we call it in the States. Privatization w/ DEWA majority ownership is clearly the way to proceed into the future. It provides the cost effectiveness that is required for successful private operation, along with the oversight of a governmental entity who must always look at the entire business and regulatory picture. Congratulations to both the successful bidder and to DEWA. JP Perkins, President, Jaker Engineering, PC, a New York Professional Corporation