Together with the Qatar General Electricity and Water Corporation, the Qatar Electricity and Water Company (QEWC) plans to construct a new 500 MW power plant (KAHRAMAA). This new initiative will build, own, and run peak units in the Doha industrial region of Ras Abu Fontas in an effort to increase Qatar’s capacity to produce power. This program, which has a 500 megawatt capacity, will assist in meeting the nation’s increasing demand for electricity.
Examining Technical and Business Offers
Currently, QEWC is selecting the project’s principal contractor by going over the technical and financial proposals received from several businesses. The choice of a contractor is an essential first step in bringing the project to life and signifies a substantial advancement. Which business will build and manage the operation of the power plant will be decided by the offers under examination.
All-inclusive Proposal to KAHRAMAA
A thorough proposal will be submitted to KAHRAMAA following the review process. The project’s whole scope, including its technical requirements, business terms, and operating schedule, will be described in this proposal. KAHRAMAA, which is in charge of the nation’s water and electrical supplies, will assess the proposal before approving the start of construction.
No Financial Information Was Shared
Notwithstanding the advancements, QEWC has not yet released any project financial information. No information is available regarding the power plant’s purchase price or expected profits after it starts up. This gives room for conjecture regarding the amount of money that will be required and the possible economic effects it may have on the nation’s energy industry.
Reduction in Net Profits for QEWC
QEWC has seen a drop in profits at the time of the introduction of this new project. The corporation announced a 12% decrease in net profits in August of 2024, with earnings for the first half of 2024 coming in at QAR 680 million ($186.80 million), down from QAR 769 million in 2023. QEWC is still dedicated to growing its infrastructure and supplying Qatar with energy, even in spite of the decline in income.
