15 February 2010 - According to a report by Reuters, Abu Dhabi will begin welcoming proposals to build the Shuweihat 3 independent power project, a 1,600 MW power plant worth $2 billion, as the emirate looks to meet tripling demand by 2020.
"We have started the process of prequalification and we are targeting sending the request for proposals early next month" commented Abdulla Saif al Nuaimi, director of privatization at the Abu Dhabi Water & Electricity Authority. "We expect to finalize selection of the developer by November this year, financial close by April 2011 and commissioning in summer 2013."
The announcement comes shortly after the UAE awarded a $40 billion nuclear power deal to a South Korean consortium this past December. The group plans to build and operate 4 nuclear reactors in the emirate.
The Shuweihat 3 IPP project will be the ninth power project under a privatization plan launched in 1998. Shuweihat 3 will be Abu Dhabi's first IPP.