International Power celebrates new deal in Abu Dhabi

His Royal Highness The Duke of York attended a reception and dinner at the British Embassy in Abu Dhabi on Tuesday to help celebrate the success of a British company, International Power, (IP), in securing a £1.379 billion deal to supply water and electricity to Abu Dhabi.

IP announced in August that, with its partners, it had signed a 20-year Power and Water Purchase Agreement (PWPA) with the Abu Dhabi Water and Electricity Company for the entire power and water output from the Fujairah F2 independent water and power project (IWPP) in the UAE.

The plant will be owned by the Fujairah Asia Power Company in which IP has a 20 percent equity interest.

Philip Cox, Chief Executive of International Power, said: "We are very pleased to have signed this agreement, as the Fujairah F2 project builds on our growing portfolio in the middle east, where we have significant greenfield development and operational experience."

He added: "His Royal Highness has been very proactive, very engaged and a big supporter of our international expansion work. He has always lobbied strongly on our behalf."

His Royal Highness The Duke of York said: "I am delighted to be able to congratulate International Power on signing this power and water purchase agreement. It's a significant milestone for the company and a commercial reward richly deserved."

The reception, hosted by IP, also recognised the work of the company in helping to recruit, develop and train young Emiratis.