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FINANCIAL NEWS
Abu Dhabi invites bids for Shuwaihat-3 project
31 Mar 2010
(MENAFN) An official at the Abu Dhabi Water and Electricity Authority (ADWEA) said that it will receive bids from international bidders for a project to generate 1600-megawatt electricity on July 15, Gulf News reported.
Speaking to reporters on the sidelines of the two-day Arabian Power & Water Summit 2010, ADWEA’s the official said that electricity generating projects are fundamental to making Abu Dhabi self-reliant in its energy needs to fuel its economic growth ambitions.
He pointed out that that electricity demand in the emirate has grown by 10 to 11 percent in 2009 compared to last year, as the emirate is expanding its non-oil economy and creating new physical infrastructure to meeting the targets under 2030-vision to triple the economy.
On the completion of Shuwaihat -3, he expected the project to come online by 2013. The plant is the ninth power project under a privatization plan launched in 1998, under which international developers take a stake in the project.
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