Qatar Electricity and Water Company (QEWC), in cooperation and Qatar General Electricity and Water Corporation (KAHRAMAA) are exploring the development of a project to build, own and operate peak units with a production capacity of 500 megawatts (±5%) in the Ras Abu Fontas, a coastal industrial area in Doha.

The project aims to meet the electricity needs of the Gulf nation. 

Work is currently underway to evaluate the technical and commercial offers to select the main contractor for the project, QEWC said in a statement to the Qatar Stock Exchange on Sunday.

A comprehensive offer will be submitted to KAHRAMAA in the coming period, the statement said.

No financial details were given.

In August, QEWC reported a 12 percent decline in net profits to QAR 680 million ($186.80 million) during the first half of 2024, compared to QR 769 million for the same period in 2023.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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