Jubail IWPP
Desalination Deal of the Year
What is it?
An 800,000m3/d and 2740MW independent water and power project.
Who is responsible?
The client is Marafiq, which also has a 30% shareholding in the project. The development consortium comprises Suez Energy International, Gulf Investment Corporation, and ACWA Power. The EPC contractors are Hyundai Heavy Industries, with GE supplying power technology and Veolia Sidem supplying MED desalination technology. The financial lead arrangers were BNP Paribas, Gulf International Bank and SAMBA Financial Group.
Why is it shortlisted?
- The Jubail IWPP is the largest greenfield power and water plant financed to date.
- The finance packages combined conventional finance with Islamic finance to provide 82% of the capital for the project.
- The plant uses MED technology on a larger scale than ever seen before.