TAQA, GS Inima and EWEC Announce Financial Closing for Desalination Project
The project will supply up to 70 million imperial gallons per day (MIGD) of potable water
Abu Dhabi National Energy Company (TAQA), one of the largest listed integrated utility companies in Europe, the Middle East and Africa, alongside GS Inima, a global leader in water desalination by reverse osmosis, and Emirates Water and Electricity Company (EWEC), a leading company in the integrated coordination of planning, purchasing and supply of water and electricity across the UAE, recently announced the successful financial closing of the US$ 444mn low-carbon intensive Shuweihat 4 Reverse Osmosis Seawater Desalination Project (S4 RO).
The project is primarily funded (71%) through debt financing from both local and international banks. The S4 RO financial closing comes after TAQA and GS Inima signed the water purchase agreement with EWEC in August 2023.
Water generation capacity
“TAQA’s water generation capacity will be over 1,250 MIGD, making us a major player in water desalination,” remarked Farid Al Awlaqi, Executive Director, Generation, TAQA.
“S4 RO will grow EWEC’s RO production capacity and strengthen security of supply, becoming our sixth RO project,” noted Othman Al Ali, CEO, EWEC.
“The diligence and effort put into the structuring of the project is outstanding. It not only demonstrates our position as a worldwide referent in the water sector but also speaks highly about the trust our investors and partners place in us,” observed Diego de Vera, Global Business Development Director, GS Inima.
