Kahramaa is due to finalize PWPA with a special purpose company launched by K1 Energy, Qatar Electricity and Water (QEWC), Qatar Petroleum (QP) and Qatar Foundation (QF).
The special purpose company will be 30% owned by K1 Energy, while QEWC will hold 60%. QP and QF will each own 5% interest.
The company will develop a 2.4GW power generation plant and a 590,000m3/day water desalination plant in Doha, Qatar. The independent water and power project (IWPP) is expected to be commissioned in 2017.
Kahramaa launched an international tender for the project in May last year. K1 Energy was selected as the preferred bidder earlier this year.
Demand for power generation and water desalination in Qatar is driven by its high economic growth, which averaged 12.8% per annum between 2007 and 2013.
