Silk Road Fund Optimistic with Clean Coal in Dubai
In August, U.S. industrial behemoth General Electric (GE) and Harbin Electric International Company Limited signed an engineering, procurement and construction (EPC) agreement to start phase one of constructing a clean coal power plant in Dubai. The Hassyan plant is near Dubai’s border with Abu Dhabi and looks to be fully operational by 2023. This would be the first clean coal-fired power plant in the GCC region, with the potential to generate 2,400 MW. The Hassyan plant will have GE’s advanced environmental control systems, enabling the capture of pollutants such as mono-nitrogen oxides, sulfur oxides and dust, to have emission levels at stack equivalent to mono-nitrogen oxides of modern plants. Furthermore, the power plant is being constructed to meet levels that are far stricter than the emission limits set in the Industrial Emissions Directive (IED) of the European Union and in the International Finance Corporation (IFC) guidelines. This project is in line with the emirate’s goal of diversifying its energy sources, part of the official the Dubai Clean Energy Strategy 2050.
Financing the Hassyan Power Plant
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