Adwea awards Shuweihat IPP to Kepco consortium
Kepco in consortium with Sumitomo, Siemens and Daewoo EPC contractors.
The Korea Electric Power Corp. (Kepco) announced on Monday that is had won a US$1.5 billion deal to build and operate a 1,600MW power plant in Shuweihat, Abu Dhabi.
The Abu Dhabi Water and Electricity Authority (Adwea) awarded the deal for the gas-fuelled plant to a consortium consisting of Kepco and Japan's Sumitomo Corp.
The plant in Shuweihat, 260 kilometres west of the UAE’s capital Abu Dhabi, will be completed by March 2014, Kepco said in a statement.
Under the deal with the Abu Dhabi Water and Electricity Authority, the consortium will oversee the construction by South Korea's Daewoo Engineering and Construction and Germany's Siemens.
Kepco will operate the plant and sell electricity from the facility for the following 25 years.
"The deal will greatly boost Kepco standing in the UAE electricity market that is emerging as a key market in the Middle East region," the Seoul-based firm said in the statement.
Last year, a consortium led by Kepco won a 20.4 billion-dollar project to build four nuclear reactors in the UAE.