Dubai Municipality in partners with the international consortium announces the singing of financing deal for world’s largest waste-to-energy plant to be built in a single phase.
The facility will process 1.9 million tonnes of municipal waste per year and produce approximately 200 MW of renewable electricity.
The project is located at the former Warsan landfill site. Its size and capacity make this facility one of the largest in the world. Up to 200 MW of thermal energy recovered will be fed into the local grid.
The agreement with Dubai Municipality includes the design and construction of the facilities, as well as financing and a 35-year operation and maintenance period on behalf of Dubai Municipality.
Dubai Waste Management Company P.S.C., a special purpose development vehicle consisting of BESIX, Tech Group, Hitachi Zosen Inova, ITOCHU Corporation, DUBAL Holding LLC and Dubai Holding Commercial Operations Group LLC, entered into long-term project finance loan agreements in the amount of 900 million USD with Japan Bank for International Cooperation (JBIC) and private financial institutions including Société Générale Bank, KfW IPEX Bank, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation, Mizuho Bank, Ltd., Siemens Bank and Crédit Agricole Bank. Nippon Export and Investment Insurance (NEXI) will provide the insurance for a part of the loan being provided by the financial institutions.
Early construction works on site started in 2020. The facility will consist of five processing lines, which will be delivered in 2023 and 2024.
Hitachi Zosen Inova and BESIX will also be in charge of the operations and maintenance of the plant for 35 years.
***
For latest updates, follow us on LinkedIn, Facebook, Twitter,
For Advertisement/Sponsorship, please contact us
1 Trackback / Pingback
Comments are closed.