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.
Arqaam Capital Limited
Level 27, Index Tower
Dubai International Financial Centre
PO Box 506687 Dubai
United Arab Emirates
Tel: +971 (0)4 507 1700