Japan’s Kyushu Electric Power plans to invest in the Taweelah B independent water & power producer in Abu Dhabi in the United Arab Emirates, the utility said on its website Thursday (19 December).
Kyuden International, a Kyushu subsidiary, has agreed to buy 6% of Taweelah Asia Power, which operates the IWPP, and 15% of Asia Gulf Power Service from Japan’s JGC, which maintains the plant.
A company spokesperson said the transaction value is “several billions of yen,” but declined to give details. Kyushu has already invested in U.S. generators and generation plants in other parts of Asia, but the Taweelah B investment is the first in the Middle East, according to the spokesperson.
Taweelah B is comprised of a 2GW gas-fired power plant and a 730,000 ton per day desalination plant. It supplies electricity and water to the Emirates Water and Electricity Company under long-term purchase agreements.
Other investors in the IWPP project are Marubeni, BTU Water, Pendekar Power (Labuan) and Taweelah Uniter Power.
After the purchase, Kyushu will own 2.42 GW of overseas generation capacity, beating its 2021 target of reaching 2.4 GW of overseas capacity earlier than expected. The company said it now aims to achieve the next target of 5GW by 2030.
“We will expand our reach to Europe, the Middle East and Africa in addition to (existing businesses in) Asia and the U.S.,” the company said in the statement.