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FINANCIAL NEWS
Dubai’s Dewa reaches fiscal closure for 2.400MW coal power project
11 Dec 2016
(MENAFN) Dubai Elect and Water Authority (Dewa) has reached financial closure for the 2.400MW Hassyan clean coal power project.
Moreover, the project is supported by a 25-year Power Purchase Agreement with Dewaa, while last year is signed the PPA, Shareholders Agreement (SHA) and others.
Additionally, total investment of the project is USD3.4bn through Hassyan Energy Co., which is a joint venture between Dewa and a consortium covering Acwa Power.
The project contains four 600MW net power units, which will be operational in March 2022, March 2021, March 2022 and March 2023.
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