About Us Sponsors
      
     
The Project Company, Arabian Power Company (APC), has four Shareholders:
  • ADWEA holds 60% of the shares of APC through a wholly owned subsidiary known as Arabian United Power Company.
  • ITM Investment Company holds 40% of the shares of APC.
  • ITM Investment Company is owned 50% by International Power plc (“IPR”), 35% by Tokyo Electric Power Company (“TEPCO”) and 15% by Mitsui & Co., Ltd (“MITSUI”).

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ADWEA was established by the Government in order to undertake the privatisation of the electricity and water sector in the Emirate. In order to fulfill its goals it is tasked with formulating policy in relation to the management of supply and demand of power and water in the Emirate, appointing the management of ADWEC and Transco, and managing the tendering of contracts to the private sector to supply power and water.

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IPR is one of the world's leading independent power producers, with extensive operations in Europe, North America, the Middle East, Asia and Australia. It has solid experience in the operation of modern utilities, and in respect of the Project fulfils the role of both project sponsor, and joint operator of the plant. IPR has played the same roles for the recent Shuweihat project and its experience will be extremely valuable on this project.

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TEPCO is the largest private power company in the world, with particular market dominance in the Tokyo region, where it serves 27 million customers. It has recently expanded its operations to overseas arenas, and has extensive experience in the operation of gas fired turbines like those found on this project. TEPCO acts as both a project sponsor, and in conjunction with IPR, the Project operator.

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MITSUI has a long history as a trading company, and was formed with the fundamental objective of promoting trade and economic development. It is both a project sponsor and, via its subsidiary Mitsui (Middle East), the EPC contractor for the Project. MITSUI has extensive experience in the power sector, and is providing a parent guarantee for the EPC contract.

Shareholding Structure

Shareholding Structure

 
 
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