IPR wins preferred bidder status for 40% ownership in Ras Laffan B Power and Water Project in Qatar
(London – 14 October 2004) The Qatar General Electricity & Water Corporation (KAHRAMAA) has awarded preferred bidder status to International Power for 40% of the Ras Laffan B Independent Water and Power Plant (IWPP) in Qatar. The 1,025 MW combined cycle gas turbine (CCGT) and 60 MIGD water desalination project has been awarded on a build, own, operate and transfer basis, and will be implemented by International Power in partnership with Qatar Electricity & Water Company (QEWC), 55%, and Chubu Electric of Japan, 5%.
The plant, the second IWPP with international participation, will be located 80kms northeast of Doha, the capital of Qatar, close to the site of Ras Laffan A, Qatar’s first IWPP. The first phase of the project is expected to be operational by 2006, with full commercial operation in 2008. The Plant’s entire power and water output will be sold to KAHRAMAA under a long term Power and Water Purchase Agreement (PWPA).
International Power will provide financial information relating to the debt/equity structure of this project on signing of the PWPA, which together with financial close is expected by the end of 2004.
For further information please contact:
+44 (0)20 7320 8619
+44 (0)20 7320 8681
About International Power
International Power plc is a leading independent electricity generating company with 11,210MW (net) in operation and 1,649MW (net) under construction. International Power has power plants in operation or under construction in Australia, the United States of America, the United Kingdom, the Czech Republic, the UAE, Oman, Saudi Arabia, Portugal, Turkey, Malaysia, Pakistan and Thailand. International Power was listed on the London Stock Exchange and the New York Stock Exchange (as ADR’s), on 2 October 2000. The ticker symbol on both stock exchanges is "IPR".