Nebras Power-IPC Developments

In January 2020 IPC entered into a joint venture with Nebras Power QPSC of Qatar for developing gas fired and renewable power plants across a wide range of markets. Initially focused on the Caspian Sea countries of Azerbaijan and Kazakhstan, the joint venture is looking to expand into other markets including those of Europe and Latin America.

Nebras Power is 60 per cent owned by Qatar Electricity and Water Company (QEWC) and 40 per cent owned by Qatar Holding LLC, a wholly owned subsidiary of Qatar Investment Authority (QIA), the sovereign wealth fund of the State of Qatar. It owns 4,845 MW of generating assets in four countries with new greenfield solar power development projects of some 485 MW in Brazil. It aims to divide its investment in power generation equally between thermal plants and renewable plants, such as wind and solar projects.

IPC’s 50:50 partnership Nebras Power – IPC Developments Ltd is preferred bidder for the 1,000 MW gas fired combined cycle and peaking capacity at Yashma in Azerbaijan based on General Electric 9E.04 gas turbines and GE LM6000 aero-derivatives.