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June 07, 2016 - Contax Partners’ Energy Feed

DEWA seeks partners for 1000MW Solar Plant |  PDO to borrow $3.4bn | KOC looks towards solar power for crude extraction 


DEWA seeks partners for 1000MW Solar Plant

DEWA Solar Plant DubaiDEWA is currently looking for partners who can help build a 1,000MW concentrated solar power plant (CSP) as part of the country's plan to diversify its energy sources. The project, which will be located within the Mohammed Bin Rashid Al Maktoum Solar Park, will include 5 facilities. DEWA has announced that it has released a tender for international consultants to submit a proposal for advisory services for the first 200MW plant; this tender is expected to be awarded in 3 months. DEWA's Managing Director and Chief Executive Officer, Saeed Mohammed Al Tayer, mentioned that the winner will be decided based on the lowest bid. While the current rates for CSP are 15 cents per kilowatt hour, Mr. Al Tayer stated that he was looking to receive bids at around 8 cents per kilowatt hour.


PDO to borrow $3.4bn

amec foster zakumPetroleum Development Oman (PDO) is currently in talks to secure $3.4bn from an international finance house to fund its operations in response to the current low oil price environment. PDO's Managing Director, Raoul Restucci, stated that the company has planned to borrow money from an international finance house in order to help the government as it is experiencing reduced revenues. This fund will help meet the needs of PDO activities for the next 9 - 12months. PDO is planning to deploy its funds in places such as oil & gas development and capital & operating costs. Mr. Restucci added that current projects are progressing well, including Enhanced Oil Recovery (EOR) projects where no delay is expected.



KOC looks towards solar power for crude extraction

Kuwait Solar Plans KPOKuwait Oil Company (KOC) has said that it is in talks with firms to use solar energy, primarily concentrated solar power (CSP), to extract oil as the country looks for alternative methods to maximize production at a cheaper price. As remaining oil reserves are mostly classified as heavy, several countries are more commonly injecting gas to improve recovery rates (Enhanced Oil Recovery or EOR). As Kuwait has a low supply of gas, it is now exploring renewable energy-EOR techniques in order to contain its import costs as well as meet the 15% renewable energy utilization target set by the government.






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