DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/f68676/united_arab_emirat) has announced the addition of the "United Arab Emirates Water Report Q1 2012" report to their offering.
The UAE is consolidating its position as a major growth market for water developers. Dubai is expected to make significant progress in 2012 by venturing into independent power projects (IPPs) with the launch of the Hassyan IPP, which will set a template for future independent water and power projects (IWPPs) in the emirate. Private sector appetite will be encouraged by the Dubai authorities, who have hitherto undertaken critical infrastructure projects using the state's balance sheet; however, Dubai's financial troubles have added impetus to its search for private financing for its power and water sector.
Key themes to highlight for UAE's water sector:
The Abu Dhabi Water and Electricity Authority (ADWEA) is seeking to tap the debt markets in order to help finance its Shuweihat 2 IWPP. In Q311 it named HSBC as financial advisor on the US$2.2bn refinancing of its Shuweihat 2 loan and will also issue a bond in what will be a first for a Gulf IWPP. This offering is set to go to the market in early 2012. The move comes amid a wider push by Abu Dhabi's government entities to approach the debt-capital markets for funding - a trend we expect to continue through 2012.
In Q411, the Dubai Electricity and Water Authority (DEWA) announced it had awarded contracts worth more than US$100mn, the bulk of which will be for water related projects. However, despite the decision by Moody's Investors Service to upgrade DEWA's corporate family rating and probability of default rating from Ba2 to Ba1, and the utility's US$3bn of debt instruments to Ba1, there are no plans to raise bonds in 2012.
BMI see average water production rising from 442mn gallons per day (g/d) in 2012 to 564mn g/d by 2016, representing an average 5.4% increase over the period.
Companies Mentioned:
Abu Dhabi Water & Electricity Authority (ADWEA) Abu Dhabi National Energy Company (TAQA)
For more information visit http://www.researchandmarkets.com/research/f68676/united_arab_emirat