KEPCO, Sumitomo finalize $1.5B CCGT power plant deal in UAE

By Dorothy Davis 

Korea Electric Power Corp. (KEPCO) and Sumitomo Corp. announced they have signed a final agreement for the $1.5 billion Shuweihat 3 combined-cycle gas turbine (CCGT) power project in the United Arab Emirates.

KEPCO and Sumitomo signed the agreement Tuesday to build and operate the 1,600-megawatt gas-fired power station in western Abu Dhabi. The deal also includes a 25-year power purchase agreement with the Abu Dhabi Water Electricity Authority.

Daewoo Engineering & Construction Co Ltd said in a separate statement that it has secured a $650.3 million contract to build the CCGT power plant along with German based Siemens.

Construction is scheduled to begin next month with commercial operations slated for 2014.

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