A consortium composed of GDF Suez and Gulf Investment Corporation (GIC) has signed an agreement to build, own and operate a $2-billion IWPP (independent water and power production) project in Bahrain.

To be developed on a BOO (build, own, operate) basis, the IWPP will be located at Al Dur, on the southeastern coast of Bahrain and will substantially increase power and water supplies in the kingdom.
The Ministry of Finance awarded the IWPP to the GDF Suez and GIC consortium following an international tendering process.
The third IWPP being developed in Bahrain, the project will deliver electricity and water to the Electricity and Water Authority (EWA) under a 20-year power and water purchase agreement commencing June 1, 2011. 
The first phase of the project will start in the summer of 2010, with full capacity being achieved in summer 2011. The project consists of a combined cycle gas turbine power plant and a reverse osmosis (RO) technology desalination plant together with all support facilities such as seawater intake and discharge structures and gas connection facilities. The complex will have a capacity of 1,234 MW of power and 218,200 cu m per day (48 million imperial gallons per day) of water.
GDF Suez and GIC has chosen Hyundai Heavy Industries (HHI) as the EPC (engineering, procurement and construction) contractor for the project. General Electric will supply the power plant turbines and Degremont will supply and install the RO desalination facility.
Expected to cost over $2 billion, the IWPP will be funded by a mix of equity capital and project finance through a consortium of banks.