The DF SUEZ-led Consortium that includes Sumitomo Corporation and Kuwaiti partner A.H. Al Sagar & Brothers, started this week procedures to establish a holding company with KWD 1 million capital to be the incubator of the strategic investor’s share in the project.
The consortium had been nominated ‘successful bidder’ for the Az Zour North Independent Water & Power Project (IWPP) in Kuwait.Sources expected the procedures relevant to establishing the holding company to be finalized by March-end.
The capacityof the plant will account for approximately 12% of Kuwait’s installed generation capacity and about 23% of its installed desalination capacity.
All of the plant’s output will be purchased by the Kuwait Ministry of Electricity and Water under a 40-year long-term Energy Conversion and Water Purchase Agreement (ECWPA). The plant is expected to start commercial operation in 2015.
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