WEC said it will conduct a competitive process to select a developer or developer consortium for the development, financing, engineering, procurement, construction, implementation, operation and maintenance of an integrated water desalination and power plant of 1,170,000 m3/day net of potable water capacity consisting of 60% Reverse Osmosis and 40% Thermal Desalination technology respectively and 3,000 MW of power, together with associated infrastructure and facilities.
Under a concession of 25 years, the project company to be incorporated to develop the Project, will sell their entire power and desalinated water capacity and output to WEC under a Power and Water Purchase Agreement (PWPA). WEC, which is owned by the state-run Saline Water Conversion Corp (SWCC) and Saudi Electricity Co (SEC), will buy the project’s water and electricity and then sell it to SWCC and SEC.
WEC’s obligations under the PWPA will be supported by a credit support agreement from the Government of the Kingdom of Saudi Arabia.
WEC is being advised by:
Banque Saudi Fransi as Lead and Financial Adviser;
Alderbrook Finance as Co-Financial Adviser;
DLA Piper Middle East LLP as Legal Adviser; and
Fichtner GmbH & Co. KG as Technical Adviser.
Deadline to submit EoIs is 1 May 2018 – click here for more information