Electricity Ministry allocates land for Al Nowais’ USD 4 bn coal plant

The UAE’s Al Nowais has officially been allocated land for its USD 4 bn, 2,650 MW coal power station in Oyoun Mousa, Electricity Minister Mohamed Shaker tells Al Borsa. Al Nowais will receive the land on a right-to-use basis and sell electricity to the state at a price that is currently under negotiation, Shaker says. Al Nowais had agreed to lower its asking price after talks over the project reportedly reached an impasse in October. The company’s proposed tariff ranges from USD 0.058- 0.067 per kWh, officials tell the newspaper.