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China signs Dubai's first clean coal power plant deal

(People's Daily Online)    17:23, December 03, 2015
China signs Dubai's first clean coal power plant deal

Harbin Electric International Corp. Ltd. (HEI) of the Harbin Electric Corporation (HEC) and Saudi Arabia’s Acwa Power will join together to build a 1,200 megawatt Hassyan clean coal plant--the first one in the Middle East, according to HEI yesterday.

HEI has entered into a strategic partnership with Acwa Power to work on developing electricity markets in the Middle East, Asia and Africa, said HEC yesterday.

The state-owned Dubai Electricity and Water Authority planned to build this project to meet electricity demand during the Dubai Expo 2020, according to the Dubai Integrated Energy Strategy 2030, which was released in 2010.

HEI and Acwa Power signed the credit and financing agreement for the Hassyan project with the Industrial & Commercial Bank of China and the Bank of China, marking the first successful entry of Chinese companies into the electricity market of the Middle East as investors, financiers and prime contractors. With the implementation of this project, the HEI steps into the high-end market.

HEI, an important member of the Harbin Electric Corporation, is China’s leading large-scale enterprise in power project contracting and exporter of power equipment. HEI has undertaken contracts to build large-scale power plant turnkey projects and provide complete equipment for power plants in more than 20 countries, including Pakistan, Vietnam and Bangladesh.

Acwa Power is Saudi Arabia's leading enterprise in producing desalinated water and generating electricity. Acwa Power is owned by the investment fund of the Saudi Arabian government and private companies.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Editor:Ma Xiaochun,Bianji)

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