Nebras Power QSC has signed on February 20, 2015 a Memorandum of Understanding with Marubeni Corporation of Japan for joint cooperation to invest in the power generation and water desalination projects around the world with a focus on investment in the Middle East, Southeast Asia, Africa, and Europe.
The signing ceremony was held in Tokyo during the Qatari-Japanese Economic Forum, on the sidelines of a visit by His Highness Sheikh Tamim Bin Hamad Al Thani – Emir of Qatar – to Japan. Nebras Power was represented by Mr. Fahad bin Hamad Al Mohannadi – Chairman and Mr. / Khalid Mohammed Jolo, the company’s CEO.
Under this agreement, Nebras Power and Marubeni will review the investment opportunities, and study the possibility of entering a partnership for the development of joint projects related to power generation and water desalination through investing in new projects or acquisitions on operational ones. The companies will review projects utilizing different fuels types including renewable energy types.
On this occasion, Mr. Fahad Bin Hamad Al Mohannadi Chairman of Nebras Power, said: “We would like to express our happiness on the occasion of the signing of this agreement, and we hope to strengthen our partnership with the international developers through new projects.” Mr. Almohannadi concluded his speech by thanking the two companies and the wishing them success. Commenting on the MoU, Mr. Khalid Jolo, CEO of Nebras Power said: “This memorandum of understanding comes as a result for the long-term cooperation with Marubeni Corporation, this cooperation was started on 2007 and we look forward to developing it. Nebras Power is currently focusing to build its investment portfolio in a balanced manner and deliberate and in consistent with the vision of its Board of Directors, and we will continue our efforts to increase our generation capacity from electricity and water, taking into account the importance of diversity in the fuel used. ”
Nebras Power Q.S.C was founded in 2014 as a shareholding company in accordance with the laws of the State of Qatar, as a partnership between the Qatar Electricity and Water company (QSC) 60%, and Qatar Petroleum International Limited 20%, and Qatar Holding (WLL) 20%.
The authorized capital of the company is one billion US dollars, and the company invests globally in new and existing projects, or through the acquisition of projects related to power generation and water desalination and processing, as well as cooling and heating projects. Nebras Power is also investing in the LNG terminal and facilities for fuel loading and unloading related to power generation, water desalination projects.