International Power eyes stake in $3 bln UAE plant
Energy generator International Power is seeking a stake in a $3 billion (1.6 billion pound) project to build a power and water desalination plant in the United Arab Emirates, a company official said on Tuesday.
The firm is interested in part owning and managing the Fujairah 2 project with planned capacity of 2,000 megawatts and 100 million gallons a day of water, said the official, who did not want to be identified.
The project, which the emirate of Abu Dhabi is developing, is the largest in the Gulf Arab desert nation that is not based on expanding existing facilities.
International Power has stakes in six utilities in the Gulf, including Saudi Arabia, Oman and UAE.
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