Mirfa International Power & Water Company

Mirfa International Power & Water Company (MIPCO) is a major electricity and water producer based in United Arab Emirates. Established in 2014, MIPCO operates under a 25-year Power and Water Purchase Agreement with the Abu Dhabi Water and Electricity Authority (ADWEA). The company's flagship project, the Mirfa Independent Water and Power Project (IWPP), is a significant brownfield and greenfield development delivering a power generating plant with a net capacity of 1600 megawatts (MW) and a seawater desalination plant with a net water capacity of 52.5 million imperial gallons of water per day (MIGD). This demonstrates MIPCO's vital role in meeting the energy and water needs in the region. MIPCO's impressive scope and strategic significance are further underscored by its recent AED4.00 billion debt financing investment secured on 21 September 2022. Notably, this investment involved a consortium of prominent financial institutions including KfW IPEX Bank, Sumitomo Mitsui Trust Bank, First Abu Dhabi Bank, Shinsei Bank, Abu Dhabi Commercial Bank, The Norinchukin Bank, Sumitomo Mitsui Banking Corporation, and Bank of China. This multi-party investment underscores the confidence and support garnered by MIPCO, reflecting the trust and interest from a diverse range of influential industry players and financial institutions. In conclusion, MIPCO's unique positioning as a key player in the electricity and water production industry, as well as its recent substantial investment, presents an intriguing and potentially lucrative opportunity for venture capital consideration.