Press Releases 2015

K1 Energy, which TEPCO jointly established with Mitsubishi Corporation (equity share: Mitsubishi Corporation (MC) 98.5%; TEPCO 1.5%), agreed with Qatar General Electricity and Water Corporation (KAHRAMAA) to conclude a 25-year power and water purchase agreement in May of this year and has been participating and investing in a power generation and water desalination project in the vicinity of Qatar's capital, Doha. (as announced previously on May 25, 2015)

Since then, TEPCO has considered raising its investment ratio toward K1 Energy and today raised its ratio from 1.5% to 33.3%, consequently increasing its investment ratio in this project from 0.45% to 10%. TEPCO believes that this increase in investment ratio will produce stable revenue over the long term.

Steady progress in this project is being made for the construction of a natural gas-fired power plant (2.4GW) and a water desalination plant (590,000 m³/day). The project is expected to begin operations in 2017 as scheduled.

TEPCO will proactively develop overseas businesses to contribute to society with technology and know-how accumulated over years both in Japan and overseas while enhancing its business base as it seeks to increase revenue towards revitalization in Fukushima.

Project Outline
(1) Location:20 km south of the capital of State of Qatar, Doha.
(2) Power generation and water desalination capacity:
Gas Turbine Combined Cycle Power Plant, 2.4 GW
Reverse Osmosis Membrane / Multi-Stage Flushing, 590,000 m³ per day
(3) Equity share of IWPP company:
K1 Energy 30%, QEWC 60%, QP 5%, QF 5%
(4) Offtaker of water and power:KAHRAMAA

Project Structure

Location of Project Site

Mitsubishi Corporation (MC)
(1) Head Office: 3-1, Marunouchi 2-Chome, Chiyoda-ku, Tokyo, 100-8086, Japan
(2) Date Established: April 1954
(3) Main Business Activities: MC is a global integrated business enterprise that develops and operates businesses across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. MC's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods.
(4) Representative: Mr. Ken Kobayashi, President and Chief Executive Officer

Tokyo Electric Power Company (TEPCO)
(1) Head Office: 1-3, Uchisaiwaicho 1-Chome, Chiyoda-ku, Tokyo, 100-8560, Japan
(2) Date Established: April 1951
(3) Main Business Activities: Supply of electricity, production and sale of electrical equipment and supply of heat
(4) Representative: Mr. Naomi Hirose, President

Qatar Electricity and Water Company (QEWC)
(1) Head Office: Doha, State of Qatar
(2) Date Established: 1990
(3) Main Business Activities: Construction and operation of power and water desalination plants.
(4) Representative: Mr. Fahad Hamad Al-Mohannadi (Managing Director and General Manager)

Qatar Petroleum (QP)
(1) Head Office: Doha, State of Qatar
(2) Date Established: 1974
(3) Main Business Activities: Development, produce and distribution of natural gas
(4) Representative: Mr. Saad Sherida Al Kaabi (President and CEO)

Qatar Foundation (QF)
(1) Head Office: Doha, State of Qatar
(2) Date Established: 1995
(3) Main Business Activities: A non-profit organization that operates Qatar Science and Technology Park, Qatar National Research Fund, World Innovation Summit for Education, etc.
(4) Representative: Mr. Saad Ebrahim Al Muhannadi (President)