EWEC, Marubeni sign deal for 2.4 GW Fujairah F3 IPP Project

Abu Dhabi Power Corporation (ADPower) and Japan-based Marubeni Corporation announced the formation of a consortium to develop the 2.4 GW Fujairah F3 independent power producer (IPP) project, which will be the largest independent thermal power plant in the UAE.

The companies have also signed the Power Purchase Agreement (PPA) and Shareholders’ Agreement was signed ad the headquarters of Emirates Water and Electricity Company (EWEC).

The Fujairah F3 IPP project includes the development, financing, construction, operation, maintenance and ownership of a combined cycle gas turbine (CCGT) power plant, together with associated infrastructure. Located in the Fujairah water and electricity complex, between the existing Fujairah F1 and Fujairah F2 water and electricity plants, the Fujairah F3 IPP project will have a contracted power capacity of 2.4 GW, bringing ADPower’s current power generation capacity to 20.4 GW. Once operational, Fujairah F3’s capacity will be able to power the equivalent of 380,000 households.

In early 2019, EWEC received 30 expressions of interest from potential bidders for the Fujairah F3 IPP project, of which 20 were qualified to bid after submitting statements of qualification. The project received six bids that were opened in October at EWEC’s headquarters in Abu Dhabi.

Through this project, the government of Abu Dhabi will indirectly own a 60% stake, while the remaining 40% will be owned by Marubeni Corporation. The construction of the Fujairah F3 IPP project, which is the largest CCGT power plant in the UAE’s current fleet, is expected to commence swiftly to enable EWEC to procure early power by summer 2022 and full generation by summer 2023.