M&A Activity • Mar 3, 2010
M&A Activity
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GDF SUEZ and the Saudi Aljomaih Group have been appointed preferred bidder for Saudi Arabia's next Independent Power Project (IPP). The Group was designated following an evaluation process of five proposals. Ryadh PP11 is a greenfield gas-fired independent power project with a capacity of 1,730 MW, situated approximately 125 km west of the Kingdom's capital. Total investment cost will be over 2 billion USD. The electricity will be sold via a 20-year power purchase agreement to the Saudi Electricity Company. The partners bid with General Electric turbines and with Hyundai Heavy Industries as their contractor.
"Having been appointed preferred bidder for the Riyadh IPP creates the opportunity for GDF SUEZ to pledge its continued commitment to the development of infrastructure for the future of Saudi Arabia," indicated Dirk Beeuwsaert, Executive Vice President GDF SUEZ, in charge of Energy Europe & International.
Saudi Arabia has a current installed capacity of 29,000 MW, which is planned to increase to 60,000 MW by 2020. In October 2009, GDF SUEZ began commercial operation in the Kingdom of the Marafiq project, with its 2,750 MW power capacity and 800,000 m³/day seawater desalination facility the world's largest power and desalination project. This 3.4 billion USD IWPP will be fully operational in the course of this year.
With over 15 years of experience in the Gulf countries, GDF SUEZ is the leading private power developer with a direct equity interest in nearly 14,000 MW and more than 2.5 million m³ of water per day of desalination capacity. The Group also treats over 400,000 m3 /day of recycled and reused water and offers engineering and waste management solutions.
One of the leading energy providers in the world, GDF SUEZ is active across the entire energy value chain, in electricity and natural gas, upstream to downstream. It develops its businesses (energy, energy services and environment) around a responsible-growth model to take up the great challenges: responding to energy needs, ensuring the security of supply, fighting against climate change and maximizing the use of resources. GDF SUEZ relies on diversified supply sources as well as flexible and high-performance power generation in order to provide innovative energy solutions to individuals, cities and businesses. The Group employs 200,000 people worldwide and achieved revenues of €83.1 billion in 2008. GDF SUEZ is listed on the Brussels, Luxembourg and Paris stock exchanges and is represented in the main international indices: CAC 40, BEL 20, DJ Stoxx 50, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe and ASPI Eurozone.
For further information on GDF SUEZ, please go to www.gdfsuez.com.
Press contact: Tel France: +33 (0)1 57 04 24 35 Tel Belgium: +32 2 510 76 70 E-Mail: [email protected] Investor Relations contact: Tel: +33 (0)1 57 04 66 29 E-Mail: [email protected]
GDF SUEZ CORPORATE HEADQUARTERS 22, rue du Docteur Lancereaux - 75392 Paris Cedex 08 - France Tel. +33 (0)1 57 04 00 00 GDF SUEZ - SA AU CAPITAL 2,260,976,267 EUROS - RCS PARIS 542 107 651 www.gdfsuez.com
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