UAE’s The Federal Electricity and Water Authority (FEWA) seeking expression of interest (EOI) from the developer or developer consortium to build Solar PV Project.
The project will have an export capacity up to 500MW to be located in the Emirate of Umm Al Quwain, United Arab Emirates.
500MW Solar PV Project in Umm Al Quwain:
The developer scope of Work involves the design, build, finance and operate, on an Independent Power Producer (IPP) basis of a Solar PV Plant.
As per the notification, the selected developer or developer consortium will form a Special Purpose Vehicle (SPV) for undertaking the Project.
The selected developer or developer consortium will own 40% stake in the SPV. FEWA and the Umm al Quwain Government will own 60% stake in the SPV.
The SPV will enter into a long-term power purchase agreement (PPA) with FEWA (being the sole offtaker of the power generated). The project structure will include a Sovereign Guarantee.
All interested bidders having experience of undertaking similar projects, need to submit an EOI not later than 10:00 a.m. local time in the UAE on 23 January 2020.
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