
DEWA signs 35 year PPA with Dubai Municipality for DWMC
Tribe acted as lead transaction and sole financial advisor to Dubai Municipality for the duration of this landmark project.
Tribe acted as lead transaction and sole financial advisor to Dubai Municipality for the duration of this landmark project.
The Dubai Waste Management Centre Project (“DWMC”) was procured as a design, build, finance, operate and maintain PPP project for a 1.9 million tonne per annum (200 MW) municipal solid waste to energy facility. The project is being co-developed by a consortium comprising Dubal Holding, ITOCHU Corporation, Hitachi Zosen Inova, BESIX Group, and Tech Group, as the project developers and joint venture partners in the project company. They appointed Besix and HZI to build the facility and provide the long-term operations and maintenance of the facility.
Client: Dubai Municipality
Enterprise Value: USD 1.1bn
Tribe Role: Financial and commercial advisor to grantor
Financial Close: July 2021
Tribe was engaged as leaTribe was mandated by Dubai Municipality (“DM”) to lead the commercial and financial workstreams in the procurement of one of the largest municipal solid waste facilities globally.
Tribe’s mandate included:
The objective of the project was to structure and deliver a waste to energy facility to contribute to accomplishing the goals set by Dubai Municipality to minimse the volume of municipal waste in landfills and develop alternative energy sources as well as contribute to sustainable and eco-friendly waste management in the UAE and the targets outlined in the Dubai Clean Energy Strategy 2050, in line with United Nations Sustainable Development Goals.
This was successfully completed with achievement of financial close in July 2021.