Developers shortlisted for Hassyan I IPP
18 firms in race to construct DEWA's 1,500 megawatt power project
The Dubai Electricity and Water Authority (DEWA) has invited 18 selected developers to participate in the 1,500 megawatt Hassyan I Independent Power Project, following the expression of interest published in March.
The selection of developers was based on the statements of qualification received from 20 firms, and DEWA hopes it will encourage the private sector’s involvement in strategic projects.
HE Saeed Mohammad Al Tayer, MD and CEO of DEWA, said that the plans aimed to consolidate Dubai’s position as a leader in the region, and strengthen its role as a global economic and financial leader.
“The successful bidder will ultimately own 49 per cent of a special purpose company, which will be formed to own the Hassyan I project,” he said. “ The balance of 51 per cent will be owned directly or indirectly by DEWA, incorporated under the applicable laws of the UAE,” he added.
The offers are expected to be submitted in October 2011 and the PPA with the successful bidder is expected to be signed by the end of 2011.