A consortium comprising Marubeni Corp, Japan Gas Corporation, BTU Power and Powertek of Malaysia, has signed the largest power project finance deal of its kind in the Middle East with the $ 3 billion acquisition and project financing of the Taweelah B IPP desalination plant in Abu Dhabi. Taweelah B is the fifth project in the privatisation of the Abu Dhabi electricity generation sector and involved the acquisition by the consortium from Taweelah Power Company, a subsidiary of the government of Abu Dhabi, of the existing power and desalination plant. The consortium will run the entire plant for the next 25 years, upgrade the plant and construct new units, which are expected to double power and water generation by 2008.
