Marubeni and Abu Dhabi Power (ADPower) have recently formed a consortium to develop the Fujairah F3 IPP project
Marubeni signs PPA for 2.4GW Fujairah F3 IPP project. (Credit: Pixabay/Gerd Altmann)
Japan-based Marubeni has signed a power purchase agreement (PPA) with Emirates Water and Electricity Company (EWEC) for 2.4GW Fujairah F3 Independent Power Project (Fujairah F3 IPP project) in the UAE.
Recently, Marubeni and Abu Dhabi Power (ADPower) have formed a consortium to develop the Fujairah F3 IPP project, which is to be located in Qidfa in the Emirate of Fujairah, UAE.
To be located in the Fujairah water and electricity complex, the project will be a combined cycle gas turbine (CCGT) power plant which is expected to be the largest CCGT power plant in the UAE.
Details of the Fujairah F3 IPP project
EWEC CEO Othman Al Ali said: “The Fujairah F3 IPP project will apply one of the most efficient and advanced CCGT technologies available in the region, producing more energy that aligns with the UAE Energy Strategy 2050’s CO2 emissions reduction targets.
“It will play a strategic role in the growth and development of the UAE, providing secure and reliable power to match the needs of consumers in Abu Dhabi and the UAE.
“As part of the tender process, EWEC conducted a robust due diligence exercise, in line with the UAE energy industry’s world-class standards, in order to select the most attractive technical and commercial bid for this project.”
Marubeni will own 40% stake in the Fujairah F3 power plant, while ADPower will hold the remaining 60% stake. The firm has signed the PPA for a 25-year period.
Once operational in April 2023, the Fujairah F3 will generate enough electricity to supply electricity to approximately 380,000 households.
The project is Marubeni’s 6th power (and water) project in the city that will add to the current Taweelah B IWPP, Fujairah F2 IWPP, Taweelah A2 IWPP, Shuweihat S2 IWPP, and Sweihan PV IPP.