ABU DHABI 17 February 2020: The Abu Dhabi Power Corporation (ADPower), and Japan-based Marubeni Corporation, yesterday announced the formation of a consortium to develop the Fujairah F3 independent power producer (IPP) project, which will be the largest independent thermal power plant to be operated in the UAE.
To mark the occasion, a ceremony was held at the headquarters of the Emirates Water and Electricity Company (Ewec) where the project’s Power Purchase Agreement and Shareholders’ Agreement was signed.
The ceremony was attended by Jasim Husain Thabet, CEO and Managing Director of ADPower; Yoshiaki Yokota, COO of Marubeni Corporation’s Power Business Division, and Othman Al Ali, CEO of Ewec, and was witnessed by Akihiko Nakajima, Ambassador of Japan to the UAE, along with Saif Mohamed Alhajeri, Chairman of the ADPower.
The Fujairah F3 IPP project includes the development, financing, construction, operation, maintenance and ownership of a combined cycle gas turbine power plant, together with associated infrastructure, said Wam.
Located at the Fujairah water and electricity complex, between the existing Fujairah F1 and Fujairah F2 water and electricity plants, the Fujairah F3 IPP project will have a contracted power capacity of 2.4GW, bringing ADPower’s current power generation capacity to 20.4GW. Once operational, Fujairah F3’s capacity will be able to power the equivalent of 380,000 households.
“Our ambition is to transform Abu Dhabi’s water and electricity sector into a reliable, efficient, sustainable and value-generating system that optimises our robust portfolio of assets and creates unique partnership opportunities. The F3 IPP Project represents a significant milestone in this journey, deploying world-class technology and efficiency standards to meet the UAE’s evolving power needs,” said Thabet.
The project received six bids, which were opened in October at Ewec headquarters in Abu Dhabi.
Through this project, the government of Abu Dhabi will indirectly own a 60 percent stake, while the remaining 40 percent will be owned by Marubeni Corporation. The construction of the Fujairah F3 IPP project is expected to begin soon to enable Ewec to deliver initial power by summer 2022, and full generation by summer 2023.