DEWA Reaches Financial Closure For 2,400MW Hassyan Clean Coal Power Project
Dubai Electricity and Water Authority (DEWA) has reached financial closure for the 2,400MW Hassyan clean coal power project. Last June, DEWA signed the PPA, Shareholders Agreement (SHA), and other project agreements with the consortium led by ACWA Power. Total investment of the project is USD 3.4 billion through Hassyan Energy Company, which is a joint-venture between DEWA (51%) and a consortium comprising ACWA Power, Harbin Electric, and the Silk Road Fund (49%). The project consists of four 600MW net power units. They will be operational in March 2020, March 2021, March 2022, and March 2023 respectively.
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