News releases 2016
Signing the long-term agreements for the future development of the UAE’s peaceful nuclear energy programme - 26 October 2016
The future development and financial commitments of the UAE’s Peaceful Nuclear Energy Program have been signed and confirmed in a ceremony held in Abu Dhabi between major stakeholders. The significant moment was reached for the Barakah Nuclear Energy Plant project yesterday, with three key agreements signed: the Joint Venture for the new utility, Nawah Energy and the Korean Electric Power Company (KEPCO); the financial close for the project; and the power purchase agreement.
As the lender’s technical advisor to the programme since 2011, Atkins has held a crucial supportive role in this process. We have brought together the skills and knowledge of over 70 engineers, environmental scientists, project managers and cost estimators to review all aspects of the programme on behalf of a number of international banks and a major government lending entity.
“We have been working on this incredible project for the past five years. It is particularly outstanding for a country that has never carried out such a development before, and with technology that has not been exported before,” said Atkins Energy Middle East & Africa Strategy and Growth director Dave Haboubi. “The combination of our technical excellence, as well as extremely close relationship-management from our Abu Dhabi nuclear team, has been critical to the success of this milestone, and has enabled us now to become trusted advisors to ENEC and Nawah Energy, as they prepare for commercial operation of the power plants.”
The Barakah Nuclear Energy Plant consists of four units being constructed at a site 300km west of Abu Dhabi city, and is currently a world-leading nuclear new build site, with four identical reactors being constructed simultaneously. In addition to the support towards financial close, much of Atkins’ focus is around helping the future operating company on a broad basis ranging from technical and licensing support, project management, organisational and capacity building and even leadership development, all in support of the first unit coming online to generate safe, clean, efficient and reliable nuclear energy to the UAE grid.
Notes to editors:
Atkins (www.atkinsglobal.com) is one of the world's most respected design, engineering and project management consultancies, employing over 18,000 people across the UK, North America, Middle East, Asia Pacific and Europe. We build long term trusted partnerships to create a world where lives are enriched through the implementation of our ideas. You can view Atkins’ recent projects on our website.
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