Saudi Water & Electricity receives expressions of interest for IWPs: report

Riyadh-based Water & Electricity Company (WEC) has received expressions of interest (EOI) from 51 companies for the development of the Shuqaiq 3 and Yanbu 4 independent water plants (IWPs), MEED reported on Monday.

The EOIs were received by the deadline previously set by WEC.

The company earlier said it was studying to link Yanbu 4, with the potential acquisition of the existing Yanbu plants, namely Yanbu phase 1, Yanbu phase 2, Yanbu RO and Yanbu Expansion – which is dubbed as the bundle and owned by the Saline Water Conversion Corporation (SWCC).

It also aimed to link Shuqaiq 3, with potential acquisition of the existing Shuqaiq phase 1 Plant (the bundle), which is also owned by SWCC.

In addition, a developer will be hired to develop, finance, build and operate the planed Yanbu 4 and Shuqaiq 3 IWPs, either as standalone projects or as part of bundles with the existing assets.

Under 25-year concession agreements, the selected developers will sell the entire desalinated water and power to WEC under either a water purchase agreement (WPA) or power and water purchase agreement (PWPA).

The purchase agreements will be supported by a credit support agreement from the Saudi government.

Shuqaiq 3 and Yanbu 4 will have a combined capacity of more than 800,000 cubic meters a day.