Samsung C&T appointed for UAE power project

20 Feb 2020
Samsung C&T appointed for UAE power project

South Korea’s Samsung C&T has been appointed by Japanese developer Marubeni Corporation to provide engineering, procurement and construction (EPC) services worth $960m for the F3 independent power producer (IPP) project in the UAE emirate of Fujairah.

The South Korean contractor confirmed the award following the signing of the power purchase agreement (PPA) between Abu Dhabi-based Emirates Water & Electricity Company (Ewec) and Marubeni on 16 February.

Marubeni will hold a 40 per cent stake in the special purpose vehicle (SPV) set up to develop and operate the plant, with the Abu Dhabi government to hold the remaining 60 per cent stake.

First power from the project is scheduled to come online in summer 2022, with the full capacity to come online by the summer of 2023.

Energy & Utilities reported in early February that Marubeni had been selected as the preferred bidder for the F3 IPP. 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.

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