Dubai Investments (DI) has signed a memorandum of understanding with Ireland's ESB International for the provision of an independent power plant (IPP) in the Dubai Investments Park.

The estimated $90 million-100 million project was tendered on a build-operate-transfer (BOT) basis, according to a report in the Middle East Economic Digest (Meed).

DI chief executive Khalid bin Kalban said negotiations were in the final stages and the final timing of a full contract award would be determined by the completion of talks between ESB and the Dubai Electricity & Water Authority (Dewa).

An important aspect of the proposed project is that the BOT plant will be linked to the Dewa grid. "Dewa is entertaining the request at present and issues of pricing and quantities are being examined," said Kalban.

Regarding feedstock for the gas-fired station, Kalban said Dubai would start receiving gas from Abu Dhabi in May.