TDIC awards first district cooling PPP on Saadiyat Island
Dalkia and Arcapita JV awarded 29-year concession, responsible for one of the region’s largest cooling operations
Abu Dhabi tourism, cultural and residential projects master developer, TDIC has awarded a public private partnership (PPP) concession to Dalkia and Arcapita JV partnership.
The deal is the first of its kind on Saadiyat and incorporates design, build, finance, operation and maintenance of three plants over 29 years. It is said to be one of the Middle East’s largest DC operations, pumping out 50,000TR over an area of 27km2.
Andrew Seymour, director of infrastructure, TDIC, said of the move, “The awarding of contracts for the cooling plants is an important step forward in the infrastructure development of Saadiyat, as we prepare for the opening of the island’s first hotels later this year, and look forward to further projects coming online in the near future.”
The objective was to develop a strategy to provide cost-effective, efficient cooling services across the 1.6 million m2 built-up area. The environmental impact was a major consideration, Seymour pointed out, “In-line with our sustainable objectives and targets, managing the issues of water conservation and environmental output continue to lead our agenda.”
Two of the three cooling plants on Saadiyat will be completed by 2012, with the third at Saadiyat Beach District to be completed in 2016 as further projects come on stream.
During the concession period, Arcapita will provide project finance, while Dalkia will perform engineering works, manage plant construction and operation.
The King & Spalding legal team advising TDIC was led by global transactions partner, Tim Burbury. “We are very pleased with the result and are proud to be associated with this groundbreaking deal, Burbury said. “We congratulate TDIC on its success.”
When completed in 2020, Saadiyat is expected to be home to 145,000 residents with leisure and tourism facilities. It is being touted as the world’s largest single concentration of cultural institutions, including the Zayed National Museum, the Louvre Abu Dhabi and the Guggenheim Abu Dhabi.