Abu Dhabi National Energy Company (TAQA) has completed a financing deal to construct the Fujairah F3 plant, which is the largest gas-fired power plant in the UAE.
According to Arabia Net, the capacity of the production plant is 2.4 gigawatts, which is equivalent to providing electricity to 380 thousand homes in the country.
The plant is expected to start initial production by the summer of 2022 and reach its full production capacity by the summer of 2023.
The completion of this transaction comes after the signing of the Energy Purchase Agreement and the shareholders agreement in Abu Dhabi Energy Corporation, Emirates Water and Electricity Company, Mubadala Investment Company Mubadala and Japanese Marubeni Company. < / p>
The Fujairah F3 plant relies on the latest JAC-class gas turbine technology provided by Mitsubishi Heavy Energy Systems, to operate with a system that is considered the most efficient in the region immediately after its establishment. p>
The estimated total cost of the project is approximately 4.2 billion dirhams, with external financing from a group of multilateral international commercial banks including the Japan Bank for International Cooperation and BNB Bank. Paribas, Mizuho Bank, Japan’s Sumitomo Mitsui Banking Group, Sumitomo Trust Bank, and Standard Chartered Bank.
The Fujairah F3 plant project is located in the Qidfa area of the Emirate of Fujairah, in a location in the middle of the two stations currently operating F1 and F2 to generate water and electricity in the emirate .. Upon completion of the project, you will be able The plant will generate electricity equivalent to the energy needed for 380,000 homes in the country .. Both Energy and Exchange will own a 60% stake in the project, while the Japanese company, Marubeni, will own the remaining 40%.
