Sumitomo wins tender to buy into Shuweihat IWPP
- From: Vol 9, Issue 9 (September 2008)
- Category: General
- Region: Middle East
- Country:
- Related Companies: Abu Dhabi National Energy Company (TAQA), Abu Dhabi Water and Electricity Authority and International Power
TAQA has sold 20% of Abu Dhabi’s Shuweihat 1 IWPP to Sumitomo. Did the Japanese firm overpay?
Sumitomo Corporation announced on 4th September that it had won a tender to acquire a 20% equity stake in Abu Dhabi’s 100 MIGD (454,610m3/d) & 1500MW Shuweihat 1 independent water and power project (IWPP) from TAQA. As part of the deal, Sumitomo will also purchase TAQA’s 50% stake in the plant’s operation and maintenance company.
The ...
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