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FINANCIAL NEWS
UAE’s ADWEA, GDF Suez sign USD1.5b deal for power project
08 Oct 2014
(MENAFN) Abu Dhabi Water and Electricity Authority (ADWEA) and GDF Suez announced signing a USD1.5 billion financing package for the emirate’s Mirfa independent water and power project (IWPP), Arabian Business reported.
ADWEA holds an 80 percent stake in the Mirfa IWPP, which is the tenth such project in the emirate, while GDF Suez will hold the remaining 20 percent.
The project is expected to start commercial operations on a phased basis between 2016 and 2017, and it is expected that it will have a total power capacity of 1600 megawatts and 52.5 million gallons per day of seawater desalination capacity.
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