Nuclear

Abu Dhabi may consider bond for power, water plants

31 March – The Abu Dhabi Water and Electricity Authority (Adwea) has said that it could consider a bond issue if financing of its water and power projects becomes a problem, according to its head of privatization.

According to Reuters, Director of Privatisation Abdulla al-Nuaimi said, “We won’t have problems with international developers coming, the challenge is the financial markets.

“Financing is the only problem. We are looking at a bond issue.”

Abu Dhabi expects power demand to more than triple by 2020 and the government is considering nuclear power plants as a long term option to meet demand.

In the short-term, power demand growth in Abu Dhabi was expected to come in at around 17 to 20 per cent per year due, fuelled by increased industrial and commercial demand, said Ahmed al-Nassay, head of power forecasts at Abu Dhabi Water and Electricity Company (Adwec).

Longer-term power demand growth should average out at around 7 to 8 per cent per year through 2030, he added.