Developers seek to submit competitive bids. IPP Hassyan 1 is the first power plant in the Emirate of Dubai that will be based on Independent Power Producer (IPP) concept.
Saeed Mohammed Al Tayer, MD and CEO of DEWA, said: “DEWA has received several requests from potential partners, whom requested to extend the closing date of submitting the offers to complete their offers in a competitive way .
“DEWA has granted approval after having made sure that there won’t be any adverse effect on the project and therefore on Dubai’s needs of electricity due to this change.”
“DEWA stresses the importance of continuous communication with International companies, especially its future partners, and it is keen to obtain the best bids. In this regard, DEWA has organised several visits and workshops with developers and financial institutions. This important step comes within the framework of creating fields of investment that can encourage private sector’s participation in strategic projects.
“It also seeks to create reliable businesses to secure future requirements of energy in the Emirate of Dubai, while taking into consideration all the aspects that can conserve and protect the environment,” Al Tayer added.
“The request for proposal (RFP) covers general instructions to the bidder, minimum functional specification, shareholder agreement, power purchase agreement as well as DEWA IWPP Code,” he added.
“The successful bidder (being a developer or forming a developer consortium) will ultimately own 49 per cent of a special purpose company which will be formed to own the Hassyan I Project. The balance of 51 per cent will be owned directly or indirectly by DEWA. The Special Purpose Company (SPC) will be incorporated under the applicable laws of the United Arab Emirates,” he explained.
In this regard, DEWA has invited 18 selected developers to participate in the Hassyan I Independent Power Project (IPP). The selection of the developers was based on the statements of qualification (SOQ) received from 20 developers as responses to the request for qualification (RFQ) issued by DEWA and its advisor to 27 developers which showed their interest in the project in last March.
The study takes into account premium office rents of Dubai International Financial Centre (DIFC) and Abu Dhabi Global Markets (ADGM)
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