Operis has completed a high-level review of the PPP bidding model filed by Belgium’s Elia and Saudi Arabia’s Vision Invest. Project Lightning involves the construction and operation of the high-voltage direct current subsea transmission system, which connects Abu Dhabi National Oil Company’s (ADNOC) offshore production facilities to Abu Dhabi Power Corporation’s (ADPower) onshore electricity grid with an installed capacity of 3,200MW. This project is aimed to reduce ADNOC’s offshore facilities carbon dioxide emission by replacing the existing offshore localised gas turbine generators with sustainable energy.
The selected investor will have an ownership interest of 40%, with ADNOC and ADPower equally sharing the rest. The winning consortium will receive capital cost and O&M payments from ADNOC and ADPower.
The result of the tender is expected to be announced in the first quarter of 2021. The construction is expected to begin in mid-2021 and last for roughly four years, followed by an operational period of 35 years.