Fujairah 3 IPP

Richa Prasad, Partner, Cranmore Partners is interviewed by Kapil Kumra, Asst General Manager & Head of Project Finance at National Bank of Kuwait SAKP, on the recently concluded Fujairah 3 IPP transaction, a 2GW– 2.4GW combined-cycle gas-fired power plant in the Emirate of Fujairah, UAE. Richa discusses the need for a gas-fired plant, contractual structure, challenges faced due to COVID in financial close of the project and how they handled VAT financing, the financing structure, and much more.