GTTPC is 60% owned by Gulf Power Company and 40% by Total Tractebel Emirates Power Company (Total SA 50%, SUEZ-Tractebel S.A. 50%).
The Taweelah A1 Plant has an original production capacity of 1360 MW for Power and 380,000 m³ per day for Water. As from May 2009, the extension will increase the total power capacity up to 1592 MW. The extension shall be achieved by way of a turn key construction contract with Doosan Heavy Industries & Construction Co. Ltd.
The main features of the project include a 6 year-extension of the Power and Water Agreement until the year 2029 for the whole plant as well as amended financing arrangements under better terms and conditions for GTTPC and its shareholders. The refinancing has a size of 1,102.5 million USD with a maturity of approximately 22.5 years and was arranged with a syndicate of 23 international banks with BNP Paribas and Calyon acting as the Initial Mandated Lead Arrangers/Underwriters.
The extension project will contribute to meeting the increasing power needs associated with the fast growing economy of Emirate of Abu Dhabi.
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Extension and refinancing of the Taweelah A1 Power and Desalination Plant in Abu Dhabi
- United Arab Emirates: Saturday, February 17 - 2007 at 09:45
- PRESS RELEASE
Gulf Total Tractebel Power Company (GTTPC), a 20% subsidiary of SUEZ Energy International, announces the extension of its Taweelah A1 Power and Desalination Plant together with the refinancing of its existing debt.
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Notes and media contacts
SUEZ Energy International's activities and investments in the Gulf Region started in 1994 with the development of the first independent power producer ("IPP") in the Gulf Region, the Al Manah project in Oman. In Abu Dhabi, SUEZ Energy International is one of the three founding shareholders in Taweelah A1, one of the largest power and water desalination plants in operation in the world. In 2004 the Group won the public tender for both the Sohar IWPP in Oman and the Al Ezzel IPP in Bahrain. Also in Bahrain, SUEZ completed this year the acquisition of the Al Hidd IWPP. In December 2006 it signed the Barka2 Rusail contract in Oman and the Marafiq independent power and water project in Saudi Arabia.For more information about SUEZ Energy International and SUEZ, visit:
www.suezenergyint.com
Contacts:
Guy Richelle
Regional Manager
of SUEZ Energy Middle East-Asia & Africa
Tel: +971 43314486
Arnaud Erbin
SUEZ Investor Relations
Tel: +33 1 4006 64 89
Katja Damman
SUEZ Energy International
External Communications
Tel: +32 2 510 7069
Posted by Lara Lynn Golden, News EditorSaturday, February 17 - 2007 at 09:45 UAE local time (GMT+4)
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This article was updated on Wed Dec 03 2008.
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