DOHA: The Qatar Electricity and Water Corporation (QEWC) has announced that Nebras Power Company, QEWC’s recently established shareholding company with an initial capital of $1bn, will launch its ‘commercial activities’ by the first half of 2014.
Fahad Hamad Al Mohannadi, General Manager, QEWC, said in a filing on Qatar Exchange yesterday that the company is looking for big investment opportunities both regionally and globally.
“The company is currently working on a five-year plan which would be implemented from the first Quarter of next year. As of now, QEWC has two different streams to invest in electricity and water sector. While the first investment model is local-focused through QEWC, the second investment would be made in international destination through Nebras Power,” he said.
The company will explore the possibilities of investing internationally in power generation and related activities. The joint venture agreement for Nebras Power Company was signed in May this year with QEWC having 60 percent stake and Qatar Petroleum International (QPI) and Qatar Holding having 20 percent stake each.
The company specialises in investing outside Qatar in power generation, desalination projects and related works like water treatment, heating and cooling systems, and securing fuel and equipment to load and unload the fuel for these projects.
Al Mohannadi stated that QEWC started achieving attractive returns from investments outside Qatar due to its wise policy focusing on the acquisition of good investment opportunities and risk-free investments. The Peninsula
