Saudi

ACWA Power consolidates its stake in RAWEC – Saudi Arabia

ACWA Power, a developer, owner and operator of power generation and water desalination plants, has announced the completion of the acquisition of certain shares and debt instruments/loan notes owned by Marubeni Corporation in Rabigh Arabian Water & Electricity Company (RAWEC) and certain shares owned by Marubeni in RAWEC’s Operations & Maintenance Company, namely Rabigh Power Company (RPC).

RAWEC is the captive utilities (power, water and steam) provider to Rabigh Refining and Petrochemical Company (Petro Rabigh Corporation), a joint venture formed in 2005 between Sumitomo Chemical, Japan and Saudi Aramco, which owns, operates and manages the Rabigh petrochemical complex.

(LINK).

Saudi’s Acwa Power plans $3bn investment in Egypt – Egypt

Saudi-based Acwa Power, a major developer of power and water desalination projects, is set to invest around $3 billion in Egypt’s electricity projects during this year.  

The utility developer has collaborated with Hassan Allam Holding Company to establish a 2.3-megawatt power plant in Luxor.   

The power plant, being built at a cost of $2.3 billion, is expected to start the Phase One of the operation in the summer of 2022 and the full commercial operation in the summer of 2023.   

(LINK).

Saudi Arabia to change behaviours and cut water consumption by 2030 – Saudi Arabia

Saudi Water Forum, organised under the patronage of Minister of Environment, Water, and Agriculture, Eng Abdulrahman bin Abdulmohsin Al-Fadhli, will be held in Riyadh on 17-19 March, 2019 to tackle Saudi Arabia’s and the region’s anticipated water shortages, as well as help the kingdom to secure water resources for the future.

As the forum’s website explains, Saudi Arabia’s per capita water consumption is among the world’s highest, which “is in conflict with the environmental conditions of the kingdom”. 

Saudi’s average water consumption is 263 litres per capita each day, and the kingdom aims to reduce this to 200 litres by 2020, and 150 litres by 2030. 

(LINK).

ACWA Power signs final financial agreements for one of the world’s largest SWRO desalination projects in Saudi Arabia – Saudi Arabia

ACWA Power, a leading developer, owner and operator of power generation and water desalination plants, leading a consortium with Saudi Brothers Commercial Company(“SBCC”), announced the successful signing of senior financing and hedging agreements for the SR 2.625 billion (USD 700 million) Rabigh-3 IWP which will generate 600,000 m³/day – making it one of the largest SWRO desalination projects in the world to be built in the Kingdom of Saudi Arabia.

The water purchase agreement was signed on 24th of December 2018 by HE Eng. Abdulrahman bin Abdulmohsen Al-Fadley, Minister of Environment, Water and Agriculture and Chairman of Water & Electricity Company (WEC), as WEC will act as the off taker of the project.

(LINK).

Saudi’s Swicorp, Spain’s Acciona deliver Bean Solar Park projects – Saudi Arabia

Three photovoltaic farms at Egypt’s 37km² Benban Solar Park have been assembled and are nearing operational readiness, following development completion by Spain’s Acciona Energía and Enara Bahrain, the renewable energy subsidiary of Saudi Arabia’s Swicorp.

The renewable energy parks have a combined electricity production capacity of 150MW and will eventually generate power for up to 150,000 homes. 

Enara and Acciona Energía, the renewable energy subsidiary of Spanish contractor Acciona,will operate the parks under a joint venture (JV) agreement. Both firms will hold 50% stake in the projects, valued at $180m (SAR675m). 

(LINK).

Acwa, Huawei in tie-up to develop PV market – Saudi Arabia

Saudi Arabia’s Acwa Power, a leader in power and desalination water plants, has signed a global cooperation agreement with Huawei at the recent Sino-Saudi Investment Forum in Beijing to develop the photovoltaic (PV) market.

The two firms will apply  cutting-edge technologies such as artificial intelligence, big data, and cloud computing to PV plant projects to promote the industry’s progress with technological innovation.

(LINK).

Acwa Power seals utility project deals with China – Saudi Arabia

Saudi-based Acwa Power has signed deals with Chinese entities, Silk Road Fund and Huawei, to lay the ground for collaboration in further investments and technological advancements of power generation and water desalination plants being developed and operated by the Saudi group.

This MoU comes as part of the official visit of HRH Prince Mohammed bin Salman bin Abdulaziz, the Crown Prince of Saudi Arabia, Deputy Prime Minister and Minister of Defence, to China.

(LINK)

ACWA Power set to expand power generation capacity with $35bn investment in next five years – Saudi Arabia

The Saudi Arabia-based power generation company, ACWA Power, has confirmed plans to increase its water desalination and power generation capacity and grow during the next five years with investments valued at approximately $35bn, according to Trade Arabia.

As the quickest growing power and water developer in the Middle East and Africa, the company is expected to enter newer territories as part of its new growth strategy.

(LINK).

Plans revealed for new $600m Saudi desalination project – Saudi

Almar Water Solutions is awarded a contract to develop a desalination plant in the city of Shuqaiq, on the Red Sea coast of Saudi Arabia

Almar Water Solutions, part of Abdul Latif Jameel, has been awarded a contract to develop a desalination plant in the city of Shuqaiq, on the Red Sea coast of Saudi Arabia.

Over $600 million will be invested in the project, creating 700 jobs, the company said in a statement.

(LINK).

Marubeni, Acciona win Saudi’s Shuqaiq 3 desalination project – Saudi

The Japanese and Spanish firms will work with local contractors on Shuqaiq 3 Independent Water Project

Marubeni has won a contract to construct, own, operate, and maintain a desalinisation plant in the Saudi Arabian town of Shuqaiq.

The Japanese conglomerate, alongside Spanish contractor Acciona; Abdul Latif Jameel Commercial Development Company (ALJ); and Rawafid Alhadarah, signed the long-term water purchase agreement with Saudi state-owned Water and Electricity Company (WEC) on 29 January.

(LINK).

RSS
Facebook
Facebook
LinkedIn
Instagram