Air Products (Lehigh Valley, Pa), in conjunction with ACWA Power and NEOM, announced the signing of an agreement for a $5-billion world-scale green hydrogen-based ammonia production facility powered by renewable energy. The project, which will be equally owned by the three partners, will be sited in NEOM, a new model for sustainable living located […]
ACWA Power and Silk Road Fund announce the completion of partnership over ACWA Power Renewable Energy Holding Ltd
Summary UAE, Dubai: ACWA Power, a leading developer, owner, and operator of power generation and water desalination plants recently announced the completion of the transaction to introduce Silk Road Fund as a partner and a 49% shareholder in ACWA Power Renewable Energy Holding Ltd (ACWA Power RenewCo). ACWA Power RenewCo is ACWA Power’s renewable energy […]
DEWA signs PPA for fifth phase of Dubai solar park
Dubai Electricity and Water Authority (DEWA) has signed a power purchase agreement (PPA) for the 900MW fifth phase of Mohammed bin Rashid Al Maktoum solar park. The 25-year PPA will contribute to achieving the Dubai Clean Energy Strategy 2050. Under the strategy, Dubai aims to produce 75% of the total power output from clean […]
World’s Largest Solar Project Will Also Be Its Cheapest
A consortium comprising EDF and JinkoSolar emerges as the leading bidder in Abu Dhabi’s latest solar tender. Abu Dhabi has set a global record-low solar price as authorities confirmed the winning bid in a 2-gigawatt tender. Upon its expected completion in mid-2022, it is slated to be the largest single-site solar energy project in the […]
ACWA POWER’S MAIDEN 144A-REGS ACWA 39 BOND SECURES INVESTMENT GRADE (BBB-) RATING FROM FITCH
Summary Riyadh, Kingdom of Saudi Arabia: ACWA Power Investment & Management One Ltd. (“APMI One”) as the issuer is pleased to announce that Fitch Ratings (“Fitch”) has assigned the 814 MUSD 5.95% p.a. senior secured Bonds due 2039 (“ACWA 39”) a ‘BBB-‘ rating with a ‘Stable’ outlook. The Bond, issued in May 2017 by ACWA Power’s […]
AIIB weighs funding support for Oman’s first solar PV project
AIIB weighs funding support for Oman’s first solar PV projectThe Asian Infrastructure Investment Bank (AIIB), a multilateral development bank with a mandate to support infrastructure development in the Asia-Pacific region, has revealed that it is studying a request for around $60 million in funding support from the developers of Oman’s first utility-scale solar PV project. […]
Saudi Arabia’s ACWA Power plans $10 bln of investments in 2020- CEO
The company, which builds power and desalinated water plants and has 50% of its portfolio in Saudi Arabia, plans to expand into new markets ABU DHABI: Saudi Arabian utility developer ACWA Power is planning to invest about $10 billion in 2020 as it eyes new projects in some 10 countries, the company’s chief executive said […]
ACWA Power to drive solar energy development in Ethiopia
Signs a 20-year PPA agreement for 250 MWac PV projects The first of a kind in the Ethiopian utilities landscape The PV projects are estimated to power 750,000 homes in Ethiopia and offset 320,000 tonnes of carbon dioxide per year Ethiopia, Addis Ababa: ACWA Power, a leading international developer and operator of power generation and […]
ACWA Power commences commercial operations at Risha PV in Jordan
ACWA Power and the National Electric Power Company (NEPCO) in Jordan have announced that the 50MW Risha Solar PV Independent Power Plant (IPP) has commenced commercial operations as of 1st of December 2019. The power purchase agreement for Risha PV was initially signed by ACWA Power and NEPCO in 2017, setting the lowest tariff for […]
ACWA, GIC consortium wins Dubai solar park deal
A consortium led by ACWA Power and Gulf Investment Corporation has been named the preferred bidder to build and operate the 900MW 5th phase of the Mohammed bin Rashid Al Maktoum Solar Park by the Dubai Electricity and Water Authority (DEWA). The park will generate solar power using photovoltaic (PV) solar panels based on the […]