International Power signs Power and Water Purchase Agreement (PWPA) for the Fujairah F2 IWPP, UAE
(London – 2 August 2007) International Power plc is
pleased to announce that, together with project partners, the Abu
Dhabi Water and Electricity Authority (ADWEA) and Marubeni
Corporation of Japan, it has signed a 20-year PWPA with the Abu
Dhabi Water and Electricity Company (ADWEC) for the entire power
and water output from the Fujairah F2 IWPP in the UAE. The plant
will be owned by the Fujairah Asia Power Company in which
International Power has a 20% equity interest, with 60% held by
ADWEA and 20% by Marubeni. The facility will be operated by a 50:50
joint venture between International Power and Marubeni.
The total project cost is estimated to be US$2,800 million
(£1,379 million), which will be funded by a mix of debt and
equity in an 80:20 ratio. For its 20% share, IPR’s equity
investment will be US$112 million (£55 million). Financial
Close is expected by 31 December 2007.
Philip Cox, Chief Executive of International Power, said,
“We are very pleased to have signed this agreement, as the
Fujairah F2 project builds on our growing portfolio in the Middle
East where we have significant greenfield development and
The Fujairah F2 IWPP, a greenfield development project, will
produce 2,000 MW of power and 130 MIGD of water on completion. The
project is expected to be fully operational by the end of 2010. The
plant will use five high efficiency Alstom GT26 gas turbines in
combined cycle mode, and twelve SIDEM 8.3 MIGD Multi Effect
Distillation desalination units, together with a 30 MIGD Reverse
Osmosis desalination plant.
Fuel will be provided by ADWEC in the form of natural gas on a
pass-through basis under the PWPA.
Notes to Editors:
An exchange rate of £1:US$2.03 has been applied in this
The Fujairah F2 project is located close to Qidfa on the Indian
Ocean coast of the Emirate of Fujairah (approximately 120
kilometres from Dubai).
For further information please contact:
Telephone: +44 (0)20 7320 8869
Telephone: +44 (0)20 7320 8622
About International Power
International Power plc is a leading independent electricity
generating company with 29,913 MW gross (18,237 MW net) in
operation and 633 MW gross (192 MW net) under construction.
International Power also has desalination capabilities with 330
MIGD gross (75 MIGD net) in operation and 105 MIGD gross (42 MIGD
net) under construction. International Power has power plants in
operation or under construction in Australia, the United States of
America, the United Kingdom, France, Germany, the Czech Republic,
Italy, Portugal, Spain, Turkey, Bahrain, Oman, Qatar, Saudi Arabia,
the UAE, Indonesia, Pakistan, Puerto Rico and Thailand.
International Power is listed on the London Stock Exchange with
ticker symbol IPR. Company website: