Dewa sign 2,400MW clean coal power project

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Dewa sign 2,400MW clean coal power project

Dubai Electricity and Water Authority (Dewa) has signed an agreement for a project which aims to produce 2,400 megawatts (MW) of electricity and will use clean coal.

Saeed Mohammed Al Tayer, MD and CEO of Dewa has signed the Power Purchase Agreement (PPA) and a Shareholders Agreement (SHA) with Mohammad Abdullah Abunayyan, chairman of Acwa Power and representative of the Acwa Power and Harbin Electric consortium.

The Hassyan clean coal power project uses the Independent Power Producer (IPP) procurement model on a Build Own Operate (BOO) basis.

The project will be supported by a 25-year PPA with Dewa and the bidder has been required to put in place a secure delivery of coal to the project over the 25-year life of the PPA. The first 2,400MW phase of the project comprises four 600MW units.

The second 1,200MW phase of the project includes two 600MW units with ultra-supercritical technology. The project has a planned commercial operation date of March 2023.

“Dewa’s Hassyan clean coal power project reflects Dewa’s commitment to its goals of energy diversification and sustainability of resources, and achieving the Dubai Clean Energy Strategy 2050, which focuses on producing electricity from clean coal as part of Dubai’s energy mix,” said Al Tayer.

“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 per cent coming from solar energy, 7 per cent from nuclear power, 7 per cent from clean coal, and 61 per cent from gas by 2030,” added Al Tayer.

“Signing this agreement exemplifies the success of Public Private Partnerships and the importance of involving the private sector in enhancing efficiency, productivity and cost reduction, in addition to optimising resources, transferring the technology, and training and developing local skills in the energy industry. Moreover, signing a PPA with Dewa brings us closer to the completion of the financial close of the project to start its construction as per the stated timeframe,” said Abunayyan.

Source: www.tradearabia.com

Moving Abroad Checklist

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Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.