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Appointing a transaction advisor for the electrical power and water


 

February 2021

The Kuwait Authority for Partnership Projects: Appointing a transaction advisor for the electrical power and water desalination plants, Az-Zour North IWPP phase 2 & 3 and Al-Khairan IWPP phase 1.

The Kuwait Authority for Partnership Projects was granted the approval of the State Audit Bureau of Kuwait to sign a contract with a consortium led by Ernst & Young for the transaction advisory services of two mega infrastructure projects; Az-Zour North Independent Water and Power Plant - Phase 2 & 3 and Al-Khairan Independent Water and Power Plant – Phase 1, in collaboration with the Ministry of Electricity and Water, where the winning consortium submitted a competitive bid which saves more than five hundred thousand Kuwaiti Dinars.

The winning consortium will undertake the preparation and completion of the feasibility studies for both projects and the works for tender stages, which include preparing qualification documents, qualification procedures for investors, preparing documents for request for proposal of the two projects, supervising the technical, financial, legal and environmental aspects of the projects and coordinating with investors to the financial close phase, under the provisions of Law No. 39 of 2010, its amendments and executive regulations, and Law No. 116 of 2014 regarding the PPP framework, its executive regulations, along with other legislations relevant to KAPP.

Both projects will fulfill the State's growing demand for electric power to enhance the existing network and provide the basic infrastructure to implement other projects that are part of the development plan. In addition, to meet the energy and water demand and encourage the participation of the private sector and benefit from its best experience in strategic and development projects. In accordance with the best international practices and standards, the costs of constructing and operating electric power stations, timely completion, and optimal utilization of the country's natural resources are alleviated from the public budget.

The implementation of the project will be in line with the design, financing, construction, operation, maintenance, and transfer system for the State under the provisions of Law No. 39 of 2010 establishing Kuwaiti shareholding companies to undertake the construction and implementation of electrical power and water desalination plants in Kuwait as well as amendments and executive regulations, and Law No. 116 of 2014 regarding the PPP framework, regulations and other legislation related to KAPP.
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