Mubadala's Algerian power plant operational
Abu Dhabi wealth fund announces successful start-up of $900m facility
Mubadala Development, a sovereign wealth fund belonging to the government of Abu Dhabi has said that a 1227 megawatt gas-fired thermal power plant it operates in Algeria has started operations.
The US$900 million plant is a joint venture between Mubadala Development and Canadian contractor SNC-Lavalin (who own 51%) the state-owned Sonatrach, Sonelgaz and Algerian Energy Company owning the remainder.
The plant is situated in Tipaza, west of Algiers, and will boost supply to Algeria’s electricity grid by almost 20%. The electricity is being sold to Sonelgaz on a 20-year contract.