Brinkmanship required on Shuweihat 2
- From: Vol 10, Issue 7 (July 2009)
- Category: General
- Region: Middle East
- Country: United Arab Emirates
- Related Companies: Abu Dhabi Water and Electricity Authority , BayernLB, Calyon, GdF Suez Energy International, Marubeni and Natixis
Shrinking returns have left little appetite among the project sponsors to further increase the margins on offer to banks. The tight timetable could present GdF Suez with an uneasy choice.
The proposed $2.2 billion refinancing of the 459,000m3/d & 1700MW Shuweihat 2 IWPP in Abu Dhabi looked to be in some doubt in mid-July, as the project sponsors were holding out for financing terms that commercial banks say are not realistic in the current market.
GdF Suez, ADWEA and Marubeni have increased their offer from the first proposal ...
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