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KfW IPEX-Bank backs Abu Dhabi waste-to-energy plant
Marubeni-led consortium to design, build and operate facility for Ewec and Tadweer Group
Michael Marray 10 Jul 2024

KfW IPEX-Bank is providing project financing for the development, construction and operation of a waste-to-energy plant in Abu Dhabi.

A consortium led by Marubeni Corporation, which includes Hitachi Zosen Inova and the Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development, has been selected to design, build and operate a new ultra-large waste-to-energy facility on behalf of the Emirates Water & Electricity Company (Ewec) and Tadweer Group.

The borrower is Albihouth Waste To Energy Project Company, formed by Tadweer Group PJSC, Marubeni Corporation, Hitachi Zosen Inova (HZI) and Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN).

Hitachi Zosen Inova acts as general contractor for the investment and, together with Marubeni and Tadweer Group, is responsible for the operational management and maintenance of the plant after commissioning.

Six other commercial banks are participating in the financing of the project. German and European technology will be installed in the facility.

“It’s a perfect match for us,” says Velibor Marjanovic, member of the management board of KfW IPEX-Bank. “With our financing, we support German and European exporters and, at the same time, the project helps to reduce carbon emissions and promotes circular economy in Abu Dhabi.”

The aim is to divert 85% of waste in Abu Dhabi from landfills by 2035 and to showcase the value of waste as an energy source to reduce environmental pollution.

The project is expected to reduce carbon emissions by 1.1 million tonnes per year, and as such, is considered an important step for Abu Dhabi and the United Arab Emirates to achieve their vision of sustainable waste management and energy diversification.

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