Arqaam managed fund sells its stake in Al Dur Power to Kyushu, Japan.
Wednesday, August 25, 2021
A consortium of GCC financial
institutions which includes First Energy Bank, Ibdar Capital,
Bahrain Islamic Bank, and Bunyah GCC Infrastructure Fund (managed
by Arqaam Capital) have successfully divested their approx. 20%
shareholding in Al Dur Power and Water Company (ADPWC) to Kyuden
International Corporation (KIC), which is the international
business arm of Kyushu Electric Power Company (Kyushu Electric),
one of Japan's leading power utilities. Kyushu Electric owns and
operates generation, transmission and distribution facilities in
over 10 countries including Japan. DPWC is a gas-fired power
generation and seawater reverse osmosis desalination facility in
the Kingdom of Bahrain. It has a net power capacity of 1,234 MW and
48 MIGD of water production capacity. Developed on a build, own and
operate (BOO) basis, ADPWC is recognized as a key element of
Bahrain's power and water sector, providing energy and water since
initiating commercial operations in 2012.