Share Purchase Agreement for Taweelah B Independent Water & Power Producer Project -our 1st IWPP project in the UAE (Equity ownership of 120MW)-
Kyuden Group has signed a share purchase agreement with JGC Holdings Corporation to acquire a 6% interest in Taweelah Asia Power Company P.J.S.C. and separately a 15% interest in Asia Gulf Service Holding Company Limited for Taweelah B Independent Water & Power Producer Project ("Taweelah B") in the United Arab Emirates ("UAE").
Located in the Emirate of Abu Dhabi, United Arab Emirates, the project Taweelah B supplies both electricity and water to the Emirates Water and Electricity Company, under the Power and Water Purchase Agreement, by operating its natural gas thermal power generation facility, which has a total output of 2,000 MW and a seawater desalination facility of 730,000 tons per day.
In the Middle East, the demand for electricity and water is increasing, therefore several bids for power generation and desalination projects will be held in the near future. Kyuden Group is seizing this opportunity to expand overseas business, beyond Asia and America to areas such as Europe, the Middle East and Africa.
By this acquisition, Kyuden Group has acquired an equity ownership of over 2,400 MW in overseas electricity generation projects, meaning it has already met its equity ownership target of 2021. By using our top-class technological prowess and expertise, we aim to achieve the equity ownership target of 5,000 MW set for 2030, which is one of our business performance targets listed in the Kyuden Group Management Vision 2030.
Location of Taweelah B
Overview of Taweelah B
| Project Site | Taweelah, the Emirate of Abu Dhabi (UAE) |
| Form of Project | BOO (Build- Own- Operate) |
| Generation and Production Capacity | Generation Capacity 2,000MW Water Production Capacity 730,000 tons |
| Buyer | Emirates Water and Electricity Company (EWEC) |
| Generation Type | Natural gas supplied by EWEC |
| Shareholders | [Taweelah Asia Power Company P.J.S.C. (TAPCO)] Kyuden International Corporation – 6% Marubeni Corporation – 14% BTU Power Company – 10% Pendekar Power (Labuan) – 10% Taweelah Uniter Power Company – 60% [Asia Gulf Power Service Company Limited] Kyuden International Corporation – 15% Marubeni Corporation – 35% BTU Power Company – 25% Pendekar Power (Labuan) – 25% |
| Background | In 1995, Taweelah B initial plant started commercial operation by ADWEA (Abu Dhabi Water and Electricity Authority). In 2000, the extension of Taweelah B plant started commercial operation by ADWEA. In 2005, TAPCO purchased the plants and established a new extension of the Taweelah B plant. The new extension of the Taweleeh B plant started commercial operation in 2008. |
Project scheme
Share Purchase Agreement for Taweelah B Independent Water & Power Producer Project -our 1st IWPP project in the UAE (Equity ownership of 120MW)-
