Qataris pay $58m for Greek power plant stake

Qatar Petroleum International Ltd., or QPI, has acquired a 25 per cent stake in Greece’s Heron II power plant, a move which Qatar‘s energy minister says is the first step in a greater investment drive in the international power sector.

“The power sector is growing steadily worldwide,” Mohammed Saleh Al Sada said at a press conference in Doha late yesterday. “We have already built capacity internally here in Qatar, but we are interested in extending our investment elsewhere.”

Mohammed Saleh Al Sada

The push to invest in power production abroad will last for the “coming few years,” he said, after state-controlled Qatar Petroleum International Ltd., called QPI, signed the agreement on Monday with GEK Terna SA securing its stake in Heron II, a 435 MW combined cycle gas turbine (CCGT) power plant.

Platts says the deal came two months after Qatar created Nebras Power, a $1bn fund that will invest in water and power assets abroad.

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