The $3.4bn first phase of Hassyan project involves construction of four units each with 600MW generation capacity. The units are planned to be commissioned in March 2020, March 2021, March 2022, and March 2023 respectively.
The financing is provided by Industrial and Commercial Bank of China, Bank of China, Agricultural Bank of China, China Construction Bank, Silk Road Fund, First Gulf Bank, Union National Bank, Standard Chartered Bank, National Commercial Bank, Commercial Bank International and Emirates NBD.
The project is being developed on a build own operate (BOO) basis by Hassyan Energy Company, a joint-venture between DEWA with 51% stake and a consortium comprising ACWA Power, Harbin Electric, and the Silk Road Fund with 49% stake.
The Hassyan clean coal power project is expected to contribute to the country’s Dubai Clean Energy Strategy 2050, which aims to produce electricity from clean coal as part of Dubai's energy mix.
DEWA CEO Saeed Mohammed Al Tayer said: “DEWA works to achieve the fifth pillar of the Dubai Clean Energy Strategy 2050, which focuses on creating an environmentally-friendly energy mix, with 25% from solar energy, 7% from nuclear power, 7% from clean coal, and 61% from gas by 2030.
“DEWA continuously develops its electricity services by working to expand its projects, services, and facilities.
“DEWA’s future objectives aim to increase the efficiency and accountability of its infrastructure, to actively contribute towards the economic growth and prosperity of Dubai.”
Supported by a 25-year power purchase agreement (PPA) with DEWA, the Hassyan coal-fired Independent Power Producer (IPP) will feature ultra-supercritical technology.
Image: Illustration of the proposed Hassyan power plant in Dubai, UAE. Photo: courtesy of Dubai Electricity and Water Authority.
