Dubai: Dubai Electricity and Water Authority (Dewa) has decided to extend the final date to receive bids for the Independent Power Project of Hassyan-1 till December 12, as per the request by the invited developers to submit their bids to develop 1,500 megawatt in Hassyan.
Developers seek to submit competitive bids. IPP Hassyan 1 is the first power plant in the Emirate of Dubai that will be based on the Independent Power Producer (IPP) concept.
Saeed Mohammad Al Tayer, Managing Director and CEO of Dewa, said: "Dewa has received several requests from potential partners, who have requested to extend the closing date of submitting the offers to complete their offers in a competitive way. Dewa has granted approval after having made sure that there won't be any adverse effect on the project and therefore on Dubai's needs for electricity due to this change."
"The request for proposal (RFP) covers general instructions to the bidder, minimum functional specification, shareholder agreement, power purchase agreement as well as Dewa IWPP Code," he added.
"The successful bidder [being a developer or forming a developer consortium] will ultimately own 49 per cent of a special purpose company which will be formed to own the Hassyan I Project. The balance of 51 per cent will be owned directly or indirectly by Dewa. The special purpose company will be incorporated under the applicable laws of the United Arab Emirates," he said.
Dewa has invited 18 sel-ected developers to participate in the Hassyan I project.
The selection of the developers was based on the statements of qualification received from 20 developers as responses to the request for qualification issued by Dewa and its adviser to 27 developers which showed their interest in the project last March.
