PFI - US$2bn ADWEA bidders line up

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Thu Apr 22, 2010 7:36am EDT

* Developers line up with suppliers

* Bids due in mid July

By Rod Morrison

LONDON, April 22 (Project Finance International) - The bidders for Abu Dhabi's US$2bn 1600MW Shuweihat 3 independent power project (IPP) are now lining up with their gas turbine suppliers, contractors and bankers following a site visit and meetings with utility ADWEA. The bidders are:

* International Power (IPR.L)/ Tepco (9501.T)/GE (GE.N)/ Toshiba (6502.T)/ Bayerische Landesbank BLGGgh.F [BAYLB.UL]/ SMBC (8316.T);

* Marubeni (8002.T)/ Osaka Gas (9532.T)/ Kansai Electric (9503.T)/ GE/ Hyundai Heavy Industries (009540.KS)/ Credit Agricole (CAGR.PA)/ Standard Chartered (STAN.L);

* Mitsui (8031.T)/ Mitsubishi (6503.T)/ Hyundai E&C (000720.KS)/ BTMU/ SG (SOGN.PA);

* Sumitomo (8053.T)/ Kepco (015760.KS)/ Siemens (SIEGn.DE)/ Daewoo (047050.KS)/ BNP Paribas (BNPP.PA)/ Mizuho (8411.T); and * Suez (GSZ.PA)/ GE/ Samsung (010140.KS)/ Samba 1090.SE/ Natixis (CNAT.PA).

Malaysian companies Powertek and Tenaga were on the site visit too and are believed to be looking into how to get involved. The bid opening date is July 15. The one missing bidder is Saudi owned specialist power developer Acwapower, which has been ruled out due to its being a GCC company. It was looking at a Chinese equipment solution.

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