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Ruwais Power assigned ‘A-’ rating by S&P

Standard & Poor’s Ratings Services on Tuesday said that it had assigned its ‘A-’ long-term rating to the $825 million bonds maturing in 2036 issued by Ruwais Power Co (Shuweihat 2), a project company that manages the development, ownership, insurance, operation, and maintenance of the S2 power generation and seawater desalination plant in Abu Dhabi.

The S2 plant is a base load tolling plant, representing approximately 11.6 per cent of the net installed power capacity and approximately 12.2 per cent of the net installed water capacity of independent power and/or water plants implemented by the Abu Dhabi Water and Electricity Authority under its privatisation programme.