JBIC concluded a project finance loan agreement with Umm Al Houl Power (UHP) of Qatar for the Facility D IWPP*1
project. UHP was established by Mitsubishi Corporation (MC) and Tokyo Electric Power Company, Incorporated (TEPCO) together with Qatar Petroleum, Qatar Electricity & Water Company Q.S.C., and the Qatar Foundation for Education, Science and Community Development. This project involves the construction, ownership, and operation of a natural gas-fired combined cycle power plant (capacity: approximately 2,400 MW) and a desalination plant (capacity: approximately 590 thousand cubic meters per day) under the BOOT*2
in Qatar, where demand for electric power and water has been increasing due to rapid population growth and economic development. The electricity and water generated by the project will be sold to Qatar General Electricity and Water Corporation for 25 years after the completion of the plants.
- *1IWPP (independent water and power producer) is a form of an independent water and power producer builds and operates power generation and water desalinization plants on its own, and sells the electricity and water produced from them.
- *2BOOT (Build, Own, Operate, and Transfer) is a form of financing program in which a private company builds, owns, and operates the project facility during the contract term, and then transfers ownership to the public sector after the project completion.