Saudi Arabia Water & Electricity Co invites bids for $multi-billion integrated desalination and power project
- March 14, 2018
- Posted by: administrator
- Category: Engineering, Asia
Saudi Arabia Water & Electricity Co (WEC) is inviting Expressions of Interest for the Jubail Phase 3 Independent Water & Power Project (Jubail 3 IWPP) – estimated value of the project is around $5 billion, according to industry sources.
The IWPP will be located 18 km south of the Jubail Industrial City at the Arabian Gulf Coast, adjacent to the existing plant units (Jubail Phase 1, Jubail Phase 2 and Jubail RO plants), in the Eastern Province of the Kingdom of Saudi Arabia.
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