• 22+ GW

    of power

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  • 2.5 million M3 day

    of desalinated water

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Press Releases

SORT

  • ACWA Power Agrees Risha Jordan PV deal with record-low tariff

    ACWA Power Agrees Risha Jordan PV deal with record-low tariff

    Monday, January 16 2017

    • New photovoltaic plant will add 61.3 MWp of installed energy capacity to Risha, Jordan
    • ACWA Power provided the lowest tariff for solar energy ever presented for a Jordan-based photovoltaic project
    • The plant marks ACWA Power’s strategy of continuous investment Jordan, and its second Solar Photovoltaic Plant.
    • The new PV plant will bring the installed capacity in Jordan as controlled by ACWA Power to 1,665 MW further consolidating ACWA Power as largest power generator in the Kingdom.
    • Signing ceremony of Risha Project made by ACWA Power and Jordan’s Minister of Energy & Mineral Resource during the World Future Energy Summit in Abu Dhabi

    ACWA Power has agreed with the Government of Jordan to develop, finance, construct, own and operate a new 61.3 MWp photovoltaic project in Risha, a province in Eastern Jordan. ACWA Power submitted a record-low tariff of JOD 42 fils per kWh, the lowest tariff for solar energy ever presented for a Jordan-based project, 3.3% lower than the previous lowest tariff provided to Jordan with the Mafraq PV project, also developed by ACWA Power under the Round II of Proposals for Renewable Energy in Jordan.

    Dr. Ibrahim Saif, minister of Energy & Mineral Resources for the Hashemite Kingdom of Jordan and Mohammad Abunayyan, Chairman of ACWA Power, attended the signing ceremony which sealed a commitment to develop the Risha project, on the sidelines of the World Future Energy Summit, a global showcase devoted to questions of sustainable energy, energy efficiency and clean technology. When it reaches completion targeted for Q1 2019, the plant will save c. 79.000 tons of CO2 and will power 12,000 households. 

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  • ACWA Power to discuss Saudi power & water growth at World Future Energy Summit

    ACWA Power to discuss Saudi power & water growth at World Future Energy Summit

    Saturday, January 14 2017

    • ACWA Power’s CEO and MD talk financing and renewable energy

     

    ACWA Power, a leading developer, investor, and operator of a portfolio of power generation and desalinated water production plants, will participate in the World Future Energy Summit (WFES) 2017. President & CEO Paddy Padmanathan and managing director Thamer Al Sharhan will examine Saudi Arabia’s power and water sectors — two segments headed for substantial growth in the coming years.

    Under the vision of King Salman bin Abdulaziz Al Saud, Saudi Arabia will invest heavily outside upstream oil and gas industries, increasing the competitiveness of the power and water industries and reducing energy usage across the country. The KSA government is already getting ahead of its energy needs, with plans to integrate renewable energy into desalination projects and boost efficiencies in other energy-intensive industries. 

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  • 2nd phase of Mohammed bin Rashid Al Maktoum Solar Park is 80% complete

    2nd phase of Mohammed bin Rashid Al Maktoum Solar Park is 80% complete

    Saturday, December 24 2016

    Dubai Electricity and Water Authority (DEWA) has confirmed that 80% of the second phase of the Mohammed bin Rashid Al Maktoum Solar Park is complete, as of mid-December. The Mohammed bin Rashid Al Maktoum Solar Park is the largest single-site solar park in the world based on the Independent Power Producer model (IPP). The second phase is the first and largest of its kind in the UAE and will eventually generate 200 megawatts (MW) of electricity by April 2017. To date, 75% of the 2.2 million photovoltaic panels have been installed. During the installation, no injuries were recorded, with over 1 million safe man hours logged. 

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  • Hassyan Energy Phase 1 Reaches Financial Close on DEWA’s 2.4 GW Hassyan Clean Coal Project with signing of US$ 2.47 Billion Financing

    Hassyan Energy Phase 1 Reaches Financial Close on DEWA’s 2.4 GW Hassyan Clean Coal Project with signing of US$ 2.47 Billion Financing

    Sunday, December 11 2016

    • Construction has commenced and now with financial close finalized, one of the world’s most cost competitive coal fired power project is on its way to becoming a reality
    • The financing of Phase 1 advances Dubai Clean Energy Strategy 2050, which aims to diversify the Emirate’s energy mix
    • Planned commercial operation date is set for the first unit to be in March 2020
    • Phase one to deliver 2,400 MW net power capacity using ultra-supercritical technology capable of 100 percent firing of coal and/ or back-up fuel of natural gas

    Hassyan Energy Phase 1 PSC (Hassyan Energy) has announced the financial closure of the project. The completed financing secures the future of the Middle East’s first ultra-super critical coal development, and facilitates the production of 2,400 MW of net electricity by March 2023.

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