UAE sovereign wealth funds Mubadala of Abu Dhabi and Dubai’s Dubal Holding, equal partners in Emirates Global Aluminum (EGA) which operates aluminum smelters in both emirates, are setting up a JV to build a new power plant at EGA’s Jebel Ali site.

EGA operates an off-grid power plant at Jebel Ali with 23 gas turbines and seven steam turbines with a total generating capacity of 2.35GW. Mubadala and Dubal have contracted Siemens to build a new 665GW combined cycle gas turbine...