Mitsubishi Power has shipped three M701JAC gas turbines to the Fujairah 3 (F3) power plant in the UAE from its Takasago Machinery Works in Japan.
The generators will power the 2,400MW F3 combined-cycle gas turbine plant, which the Fujairah Power Company F3 will develop.
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The M701JAC has over 64% efficiency, 99.6% reliability, and has the lowest carbon emissions per unit of power when used in a combined cycle, the firm said.
It is also capable of operating on a mixture of up to 30% hydrogen and 70% natural gas. Future provision includes using 100% hydrogen.
Fujairah Power Company F3 is a special purpose company (SPC) jointly owned by Abu Dhabi National Energy Company (Taqa) and Mubadala Investment Company, as well as Japan’s Marubeni Corporation and Hokuriku Electric Power Company.
South Korean firm Samsung C&T Corporation is the project’s engineering, procurement and construction contractor.
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By GlobalDataConstruction works are underway for the planned scheme, MEED reported in October last year.
It is understood the plant will produce early power by mid-2022. It is expected to commence full generation by mid-2023.
Costing approximately AED4.2bn ($1.14bn), Fujairah F3 reached a financial close in July last year.
Finance
A consortium of international multi-lateral and commercial banks is providing a $900m soft mini-perm project financing. They are Tokyo-based Japan Bank of International Cooperation (Jbic), Mizuho Bank, Sumitomo Mitsui Banking Corporation and Sumitomo Trust Bank; France’s BNP Paribas; and UK-headquartered Standard Chartered Bank.
The financial closing follows the signing of the power-purchase agreement and shareholder’s agreement in February last year between Abu Dhabi Power Corporation (ADPower), Emirates Water & Electricity Company (EWEC), Mubadala Investment Company and Japan-based Marubeni Corporation.
Through Mubadala and Taqa, the Abu Dhabi government will own 60% of the project company while Marubeni will own the remaining 40%.
Marubeni submitted the second-lowest bid of AED16.812/kWh for the combined-cycle gas turbine scheme.
Led by France’s Engie, another team submitted the lowest bid of AED16.7901/kWh.
France’s EDF and Japan’s Jera submitted a tariff price of AED17.109/kWh for the F3 project.
EWEC, the emirate’s power off-taker, received six bids for the contract in October 2019.
London-headquartered Alderbrook, US-based White & Case and Germany’s Fichtner provided financial, legal and technical advisory services, respectively, to EWEC.
Energy Transition in the Middle East
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This article is published by MEED, the world’s leading source of business intelligence about the Middle East. MEED provides exclusive news, data and analysis on the Middle East every day. For access to MEED’s Middle East business intelligence, subscribe here.
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