Yokohama, Japan - JGC Corporation ("JGC") has closed the deal to purchase a part of the share and business rights to own and operate the Taweelah A2 IWPP (Independent Water and Power Project) in Abu Dhabi, United Arab Emirates (UAE), from Marubeni Corporation ("Marubeni").
The plant, consisting of CCGT (Combined Cycle Gas Turbine) power units and MSF distiller units, is located in the Taweelah district of the Emirate of Abu Dhabi and produces 710 MW of power and 50 MIGD of water. It has been in commercial operation since 2001, with more than seven accumulated years of safe and stable operations characterized by excellent energy efficiency and environmental performance.
The facilities were formerly operated by a project company owned by Abu Dhabi National Energy PJSC (TAQA) (94% stake) and Abu Dhabi Water & Electricity Authority (6% stake). In 2007, TAQA made the decision to release a 40% stake and Marubeni acquired this stake.
JGC has acquired a 15% share in the Marubeni share, becoming a shareholder with a 6% stake of the total stake. This acquisition represents JGC's third involvement in the power and water investment business in the Middle East following the Taweelah B IWPP Project in Abu Dhabi and the Rabigh IWSPP (Independent Water, Steam and Power Project) in the Kingdom of Saudi Arabia.
In conformity with Scenario 2010, the company's medium-term management plan, JGC has continued expanding and enhancing its core businesses, namely, engineering, procurement and construction (EPC), while expanding its investment business for power and water plants based on a wide range of technologies and know-how, along with the extensive experience acquired through its EPC businesses.