EXCLUSIVE: Marubeni selected as preferred bidder for Abu Dhabi’s F3 IPP
Abu-Dhabi based Emirates Water & Electricity Company (Ewec) selected a consortium led by Japan’s Marubeni as preferred bidder for the planned F3 independent power producer (IPP) project.
The Marubeni consortium is expected to sign the power purchase agreement (PPA) in the second week of February, according to sources close to the project.
Marubeni submitted the second lowest bid in October last year during a competitive tendering process. The Japanese developer’s bid of 16.812 7901 fils a kilowatt hour (fils/kWh) was slightly higher than the AED16.7901 fils/kWh second lowest bid submitted by France’s Engie.
The F3 plant will be located in the Northern Emirate of Fujairah and will have a generation capacity of between 2,000MW and 2,400MW.
The selected developer will own up to 40 per cent of a special purpose vehicle company set up to develop and operate the plant, with Ewec to hold the remaining 60 per cent.
Ewec was established in 2018 to replace Abu Dhabi Water & Electricity Company (Adwec) as part of plans to unify water production and power generation between Abu Dhabi and the Northern Emirates.
Ewec falls under the umbrella of Abu Dhabi Power Corporation.
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