Samsung C&T bags $1.27bn EPC deal for Fujairah F3 IPP in UAE
The project was awarded by Japan’s Marubeni Corporation, developer of the 2.4GW project
South Korea’s Samsung C&T announced in a statement that it has been awarded the KW1.15tn ($1.27bn) engineering, procurement and construction contract for the planned 2.4GW Fujairah F3 independent power producer project in the UAE.
The project was awarded by Japan’s Marubeni Corporation, developer of the project.
Abu Dhabi Power Corporation and Marubeni formed a consortium and signed the power-purchase agreement for the scheme on 16 February.
The government of Abu Dhabi will indirectly own 60 per cent of the project company, while Marubeni will own the remaining 40 per cent.
Marubeni submitted the second-lowest bid of AED16.812 fils a kilowatt hour (fils/kWh) for the combined-cycle gas turbine scheme.
Emirates Water & Electricity Company (Ewec), a subsidiary of Abu Dhabi Power Corporation and the emirate's power off-taker, received six bids for the contract in October.
As part of the contract, Samsung C&T will be in charge of the EPC of Fujairah F3 IPP combined power plant facility with a capacity of up to 2,400 MW.
The new plant will be located at the Fujairah water and electricity complex, between the existing Fujairah F1 and Fujairah F2 water and electricity plants, 302 kilometres north of Abu Dhabi.
The construction is scheduled to be completed in April 2023. The F3 project is designed for a stable power supply in the northern Emirates, and it also aims to expand power facilities.
Once the project commissioned, it will be the largest independent thermal power plant in the UAE.