Dubai Electricity and Water Authority (Dewa) said that Emirates NBD and HSBC will offer bidders a stapled commercial debt facility for up to $200 million in connection with Dewa’s Independent Power Project Programme (IPP).

The Hassyan 1 IPP will have a capacity of 1600 MW, will be owned 51 per cent by Dewa and 49 per cent by the winning bidding consortium and will form part of the Hassyan Power generation complex.

Dewa plans to build a large power and desalination complex at Hassyan with a capacity of up to 9,000 MW of power and 720 million gallons per day desalination, in response to increases in population and continued expansion of projects undertaken in the UAE.

The complex will include up to six plants, of which the Hassyan 1 IPP is the first, and will be located next to Dubai World Central.

Further information regarding the general terms and conditions of the stapled debt facility will be released on a confidential basis via the dataroom to a short-list of bidders currently in the running for Hassyan 1 IPP, the Dewa statement said. – TradeArabia News Service