On October 13th, 2015, the Harbin Electric International (HEI)/ACWA Power Consortium was officially appointed as the Preferred Bidder for the investment and EPC contract of the Dubai Hassayan Clean Coal Project - Phase I (2X600MW).

In accordance with the Dubai Integral Energy Strategy 2030 (DIES 2030) published in 2010, the Hassayan Clean Coal Project is initiated by the Dubai Electricity & Water Authority (DEWA) to cover the power demands of the 2020 Dubai World Exposition, located in the Saih Shuaib area on the Arabian Gulf coast in Dubai. DEWA also plans two further phases of the clean coal-fired plant (Phase 2 and Phase 3), each of which is intended to have a net capacity of 1200 MW. The first unit of the phase I power plant is expected to be put into commercial operation in March 2020, and the second in March 2021. Through the international bidding process, the Dubai Hassayan Clean Coal Project - Phase I (2X600MW) will be developed on a BOO basis with the privileged operation of twenty-five (25) years from the Plant Commercial Operation Date. As per the RFP, DEWA will subscribe for fifty-one percent (51%) of the Project Company’s capital with the HEI/ ACWA Power Consortium subscribing for the balance. Meanwhile, it has been agreed that HEI will act as the EPC Contractor of the project.

The UAE Dubai Hassayan Clean Coal Project - Phase I (2X600MW) was issued in April 2014. The HEI/ACWA Power Consortium submitted a bidding proposal on April 30th, 2015, and was selected as the Preferred Bidder of the project after several rounds of clarification. This success marks a breakthrough in HEI’s investment strategy. With the execution of this project, HEI will transform its role from an EPC contractor to a power developer, successfully entering the Middle East market.

This award of Preferred Bidder lays a sound foundation for HEI’s innovation and transformation, and helps the Company to march towards a new high-point. Its execution will promote HEI’s brand recognition and stand as a significant milestone in HEI’s future market development.