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The Abu Dhabi Investment Office (ADIO) and the Department of Municipalities and Transport (DMT) announced on Friday the financial closure of the second phase of the road lighting LED public-private partnership (PPP) project in the UAE capital.
The French consortium of EDF and ENGIE is chosen The second phase will be delivered in December 2022 following a three-stage evaluation of proposals submitted by pre-qualified bidders from nine countries.
EDF and ENGIE formed Nojoom, a 50-50 joint venture, to deliver the project, which involves the finance, supply, installation, operation and maintenance of 133,473 energy-efficient LED street lights, state news agency WAM reported Friday.
The project is structured as a design-build-finance-operate-maintain (DBFOM) contract with a concession period of 12 years.
It has been broken down into five phases covering smaller geographic areas and is expected to reduce electricity consumption by an estimated 74% over the concession period.
WAM’s statement did not reveal further details about the project’s financing, including the financial institutions involved and the total amount of debt raised.
this The first stage In March 2020, UAE-based Tatweer was awarded a 12-year DBFOM concession for a road lighting PPP project of 43,000 LED energy-saving lamps for transportation asset and system operation and management.
In January 2023, ADIO, in partnership with Khalifa University, launched a professional New PPP tenders Provides accommodation and related facilities for 3,250 students in the UAE capital.
May 2022, ADIO and Abu Dhabi Department of Education and Knowledge (ADEK) awarded A consortium of BESIX and Plenary Group was awarded the contract for the Zayed City School PPP Project. Financial close is achieved in July 2022.
read more: Abu Dhabi invite Letter of Intent for Two Infrastructure PPP Projects
(Writing by Senthil Palanisami; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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