Chairman’s Message

"Desire is the key to motivation, but it's the determination and commitment to an unrelenting pursuit of your goal - a commitment to excellence - that will enable you to attain the success you seek."

I am honored to be the Chairman of Nebras Power, which believes in gaining an unprecedented edge by gaining international operational expertise across the energy value chain, and to be a leading energy company in the world.

Our major strength comes from our shareholders, Qatar Electricity & Water Co., Qatar Petroleum International Limited, and Qatar Holding, which makes us confident to bring our strategies to life while carefully evaluating our global partners.

This evolving track record of our shareholders operations, from managing pipeline systems and gas terminals, to managing large power generation plants, presents a unique array of opportunities both for Nebras Power and the rest of the world.

We realize that turning a dream into a reality comes with major challenges but with the right people, capable leadership and realistic vision, I am confident that we will continue to march ahead with innovative strategies and meet our goals in a timely manner.

Our Board of Directors, management, and all employees will continue the disciplined approach of living within the company’s means. I remain confident that we will achieve our vision of being the leading energy infrastructure company and we will aim to generate superior returns for our shareholders.

CEO’s Message

It gives me immense pleasure to lead Nebras Power, a company that believes in its vision, its people and is highly supported by its shareholders.

In a short period of time, we have made good progress towards our strategic goals, in line with our four guiding principles: operational excellence, prudent investments, conservative financial management, and strong ties with global partners.

While our focus remains firmly on enhancing the quality of our earnings through capital efficiency and operational excellence, we are also laying the foundations for the future.

With the liberal investment opportunities and the ever increasing growth of the utility services demand globally, Nebras Power can effectively capitalize on its resources, financial strength and ability to reach it’s vision and with the support of our shareholders.

I strongly believe that with capable and dedicated teams, lead by experienced management; we will march ahead to achieve our goals, and turn new cornerstones of success by exploring greater opportunities around the world, expanding our investment portfolio, with the aim to increase the wealth of our shareholders.

Nebras Power – At A Glance

We are a dynamic energy company headquartered in Doha, Qatar.

Nebras Power seeks to be on the verge of becoming one of theleadingcorporations, with profitable investments in the utilitysector,particularly focusing on Power&Water and different sources of energy. The company is driven by the confidence and experience of a joint partnership between Qatar Electricity & Water Co., Qatar Petroleum International, and Qatar Holding.

Nebras Power has been established to invest in feasible and profitable large-scale power & water projectsaround the world. We seek to expand the range of our services, and provide complete solutions for establishment of new LNG handling facilities, Water Treatment Plants, Fuel sourcing and supply ventures, making us a significant player in the MENA region, South East Asia, Europe, and beyond.

We are committed to incorporate economic, social, & environmental indicators and facets into our bottom line, which al low sustoensure that the Society as a whole is a beneficiary of our progress and growth.

Vision

To be one of the leading Energy companies in the World, pioneering future energy and maximizing shareholder value by exploring profitable investment opportunities.

Mission

We will commit providing safe, reliable, affordable, and environmentally sound utility solutions. We aspire to achieve this through living our values, which condition every decision and action we take. We will ever age the skills and creativity of our dynamic and innovative team to achieve sustainable performance excellence.

Values

Our values serve as a compass for our actions and behaviors:
  • Continuous Improvement & knowledge
  • Collaboration and Teamwork
  • Honesty, Integrity and Transparency
  • Safety as a Priority
  • Commitment to Environment









Organizational Structure

Our structure is based on goal orientation, efficiency, and flexibility, with clear and smooth channels of communication, while maintaining the adaptability to innovative management techniques. We believe in teamwork and mutual respect, encouraging synergy and focusing on collective skills and efforts while maintaining effectiveness through proper management reporting, authority, and responsibility throughout the organization.


Ownership and Shareholding

Nebras Power was established in 2014 in accordance with the provision of Article 68 of the commercial companies’ law promulgated by the law No.5of2002. The head office of the Company and its statutory place of business shall be in Doha, Qatar.

Nebras Power Q.S.C. is a joint venture between:

  • Qatar Electricity and Water Company Q.S.C (60%).
  • Qatar Holding LLC (40%).





The paid up share capital of the Company is three billion six hundred and fifty million Qatari Riyals (QR3, 650,000,000) divided into 365,000,000 (three hundred and sixty five million) ordinary shares for the amount of QR10 (Ten Qatari Riyals) each.

Qatar Electricity and Water Company Q.S.C. (QEWC) is a leading developer and producer of power and water in and outside the State of Qatar.

The Company was founded in 1990, as a Qatari shareholding company, in accordance with provisions of Qatar Commercial Companies Law, with the purpose of owning and operating power generation and water desalination plants, and selling their products.

The paid up capital of the company is QR1 billion, split into 100,000,000 shares.

Government of Qatar owns 43% of the paid up capital and companies and individuals hold the remaining 57%. The company is managed by the Board of Directors consisting of 11 members headed by H.E. Dr. Mohammed Bin Saleh Al Sada, Minister of Energy and Industry.

In terms of the market value, QEWC is the second-­‐largest utility in the Middle East and North Africa region. The company is having a net capacity of 5,820 MW of Power generation and 294 MIGD of water desalination. QEWC revenue increased at a compounded annual growth rate of 13.7% over the last ten years.


Qatar Holding LLC (QH) is a global investment house established in 2006, founded by the Qatar Investment Authority (QIA) and licensed by the Qatar Financial Centre Authority (QFCA). QH invests internationally and locally in strategic private and public equity as well as in other direct investments.  QH strives to achieve steady long term returns on assets to benefit the State of Qatar and to diversify its economy. 

The portfolio of QH includes some of the world's most prestigious institutions covering a wide range of industry sectors. Qatar Holding’s investments cover more than 30 countries across all continents. QH is committed to excellence in the development of its people in order to maintain and enhance its position as a world-class investor.  It recognizes the need for human resources development so that they are fully equipped to deliver the QH's investment strategy relies above all on the quality and experience of its professionals.

QH is recognized in the corporate world as one of the world-class investment holding corporations and QH is being preferred as a partner of choice for investors, financiers, and other stakeholders.  QH by applying best practices in corporate governance, strategic and investment planning, financial management and reporting, human resource management and stakeholder consideration has already set an example in order to create an organization that demonstrates its shared values of focus, integrity and professionalism.

Nebras Power reached successful financial close in respect of a US$2.75 billion debt financing through its affiliate Minejesa Capital B.V.

On August 10, 2017, Minejesa Capital B.V. (35.5% indirectly owned by Nebras Power Q.P.S.C.) achieved successful financial close in respect of a US$2.75 billion, multi sourced non-recourse debt financing.

The financing package consists of a US$800 million 20-year amortising bond, US$1.2 billion 13-year amortising bond and a 6-year US$750 million (equivalent) amortising corporate loan facility incorporating US$ and JP¥ denominated tranches. Moody’s and Fitch confirmed investment grade ratings for the bonds: Baa3 and BBB- (respectively). The bonds are listed on the Singapore Stock Exchange.

Minejesa Capital B.V. is a joint venture owned by Nebras Power Q.P.S.C., Mitsui & Co., JERA Co. and PT Batu Hitam Perkasa. The objective of the joint venture is to invest in power projects and to raise financing in the global financial markets for such projects. The proceeds of the financing will be invested in PT Paiton Energy (an Indonesian power generating company, 35.5% indirectly owned by Nebras Power Q.P.S.C.). The funds will be used by PT Paiton Energy to prepay outstanding senior debt facilities and subordinated shareholders loans and for general corporate purposes. PT Paiton Energy provided an unconditional guarantee of the debt financing package.

This benchmark transaction represents the first project bond for an Asian credit in the international debt capital markets for more than a decade and is one of the largest transactions in recent times in the project bond space. It is considered as a landmark transaction concluded at extremely competitive pricing and will set a precedent for future Asian power project financings.

The bonds have received unprecedented levels of interest from investors internationally, resulting in very competitive pricing.

The unprecedented level of investor appetite for the bond is a strong indicator of the confidence investors have in the credit quality of the asset and the sponsor group, and the robustness of its business model that generates long term stable cash flows.

On the basis of a US$ 9.4 billion order book (4.7 times oversubscription) comprising over 400 investors globally, the bonds were priced at the tight end of final price guidance, 4.625% and 5.625% for the for the 13-year and 20-year instruments, respectively. The $750 million non-recourse bank loan facility was also oversubscribed up to $1.4 billion and very competitively priced, further evidencing the high quality of the underlying credit.

Nebras Power has played a leading role in the transaction structuring and execution along with its joint venture partners.
About Nebras Power


Nebras Power is an international power company established in 2014 and headquartered in Doha, State of Qatar. The Company has the mandate to develop and manage a portfolio of strategic investments in the power and water sectors throughout the world, outside of the State of Qatar. Nebras Power targets to achieve a well-balanced investment portfolio in terms of technology mix, markets and greenfield vs M&A development. South East Asia is a core market geography to Nebras Power.


Nebras is a joint venture of two Government Related Entities, Qatar Electricity and Water Company (“QEWC”) (60%) and Qatar Holding (“QH”) (40%)

QEWC is the national power and water company of the State of Qatar and is rated A1 by Moody’s. The Company has been partly floated on the Doha stock exchange and \ the State of Qatar owns directly and indirectly 52%.

QH is a global investment house established in 2006, founded by the Qatar Investment Authority and fully owned by the state of Qatar. QH invests internationally and locally in strategic private and public equity as well as in other direct investments.

About PT Paiton Energy
PT Paiton Energy is the first and the largest Independent Power Producer (IPP) operating in Indonesia. It currently own and operate three power plants at Paiton Power Complex in East Java. Two power plants (Units 7 and 8) with capacity of 615MW each, and Unit 3 with capacity of 815MW and it is the first supercritical power plant in Indonesia which provides a higher efficiency, a lower fuel consumption and subsequently lower CO2 emissions.

Under a long term Power Purchase Agreements, PT Paiton provides 2,045MW of power to PT PLN (Persero) which is approximately 6% of total installed capacity in Java Island. Paiton Energy generates approximately 13,500 GWh of electricity per year, which contribute to around 10% of the annual electricity consumption in Java Island.

PT Paiton Energy is considered as a reliable supplier of electricity, as well as an active corporate citizen, providing support to local communities in East Java as well as to other projects throughout Indonesia.

PT Paiton ultimate shareholders are Nebras Power Q.P.S.C. with (35.5%), Mitsui & Co. with (45.5%), Jera with (14.0%), and PT Batu Hitam Perkasa Indonesia with (5.0%).





Qatar Holding LLC (QH) is a global investment house established in 2006, founded by the Qatar Investment Authority (QIA) and licensed by the Qatar Financial Centre Authority (QFCA). QH invests internationally and locally in strategic private and public equity as well as in other direct investments.  QH strives to achieve steady long term returns on assets to benefit the State of Qatar and to diversify its economy. 

The portfolio of QH includes some of the world's most prestigious institutions covering a wide range of industry sectors. Qatar Holding’s investments cover more than 30 countries across all continents. QH is committed to excellence in the development of its people in order to maintain and enhance its position as a world-class investor.  It recognizes the need for human resources development so that they are fully equipped to deliver the QH's investment strategy relies above all on the quality and experience of its professionals.

QH is recognized in the corporate world as one of the world-class investment holding corporations and QH is being preferred as a partner of choice for investors, financiers, and other stakeholders.  QH by applying best practices in corporate governance, strategic and investment planning, financial management and reporting, human resource management and stakeholder consideration has already set an example in order to create an organization that demonstrates its shared values of focus, integrity and professionalism.