dubai-electricity-and-water-authority-extends-the-final-date-of-receiving-bids-for-hassyan-1-indepen

Dubai Electricity and Water Authority has decided to extend the final date of receiving bids for the Independent Power Project of Hassyan-1 till 12th December, 2011, as per the request of the invited developers to submit their bids to develop 1500 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 Independent Power Producer (IPP) concept. His Excellency Saeed Mohammed Al Tayer, MD & CEO of DEWA, said: “DEWA has received several requests from potential partners, whom 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 affect on the project and therefore on Dubai’s needs of electricity due to this change.” “DEWA stresses the importance of continuous communication with International companies, especially its future partners, and it is keen to obtain the best bids. In this regard, DEWA has organized several visits and workshops with developers and financial institutions. This important step comes within the framework of creating fields of investment that can encourage private sector’s participation in strategic projects. It also seeks to create reliable businesses to secure future requirements of energy in the Emirate of Dubai, while taking into consideration all the aspects that can conserve and protect the environment,” His Excellency Saeed Al Tayer further added. “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% of a special purpose company which will be formed to own the Hassyan I Project. The balance of 51% will be owned directly or indirectly by DEWA. The Special Purpose Company (“SPC”) will be incorporated under the applicable laws of the United Arab Emirates,” HE explained. It can be highlighted that Dubai has established the required regulatory framework for I(W)PP such as regulatory service bureau (RSB) , issuance of the Decree No. (9) of 2011 Amending Decree No. (1) of 1992 Establishing Dubai Electricity and Water Authority and Law No. (6) of 2011 Regulating the Participation of the Private Sector in Electricity and Water Production in the Emirate of Dubai, to set up regulatory structure that can attract the participation of private sector in the Electricity and Water generation sector in the Emirate of Dubai, as well as bringing in foreign capitals. In this regard, DEWA has invited 18 selected developers to participate in the Hassyan I Independent Power Project (IPP). The selection of the developers was based on the Statements of Qualification (SOQ) received from 20 developers as responses to the Request for Qualification (RFQ) issued by DEWA and its advisor to 27 Developers which showed their interest in the project in last March.