AL-DUR POWER AND WATER COMPANY B.S.C. (C)
During 2009, FEB successfully completed approximately 9% stake acquisition in the Al-Dur Independent Water and Power Project (IWPP). This co-investment with GDF SUEZ META and Gulf Investment Corporation is part of FEB’s strategy of building up a book of top quality energy related infrastructure assets. The Al-Dur project, which is the largest of its kind in the Kingdom of Bahrain, successfully commenced operation during the first quarter of 2012. The project is located on the southeast coast of the Kingdom and is valued at a total of USD2.2 billion. Its production capacity is 1,234 megawatts of power and 48 million gallons of water per day. The plant utilizes mainly GE turbines for the two power blocks and Reverse Osmosis (RO) as its water desalination technology. This project represents an important addition to the Kingdom of Bahrain and will help meet the rising demand for both power and electricity going forward. The Bahraini Electricity and Water Authority (EWA) is the sole off-taker of the plant output as stipulated in the 25-year Power and Water Purchase Agreement.