• 22+ GW

    of power

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  • 2.5 million M3 day

    of desalinated water

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Press Releases

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  • Dubai to get Solar Power Day and Night without subsidy at Lower Cost than Gas-fired Electricity

    Dubai to get Solar Power Day and Night without subsidy at Lower Cost than Gas-fired Electricity

    Sunday, September 17 2017

    • ACWA Power awarded 700 MW CSP fourth phase of the Mohammed Bin Rashid Al Maktoum Solar Park  at a levelised tariff of US $7.30 cents per kilowatt hour; a cost level that competes with fossil fuel generated electricity without subsidy for reliable and dispatchable solar energy through the night.
    • By far the largest single-site thermo-solar power plant in the world the plant uses a state-of-the-art combination of a central tower and parabolic trough concentrated solar power (CSP) technologies to collect energy from the sun, which can be used to generate entirely renewable energy based electricity not just during the day while the sun is shining but throughout the night just as a gas, oil or coal fired power plant does.
    • The levelised tariff, the size of the plant and the dispatch methodologies places the CSP technology, with no carbon or other polluting particulate emissions, in direct tariff competition with fossil fuel power generation for the first time providing enormous benefits to the people and the planet.
    • The 260m high tower based CSP plant at this site which will be as tall as Emirates Towers in Dubai also sets a new global record;
    • The plant will support the Dubai Clean Energy strategy 2050 to increase the share of clean energy at Dubai to 25% by 2030.

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  • ACWA Power awarded three Solar PV projects under Round 2 of Egypt FiT program II

    ACWA Power awarded three Solar PV projects under Round 2 of Egypt FiT program II

    Tuesday, August 8 2017

    • ACWA Power signed the Power Purchase Agreement with the Government of Egypt for three solar photovoltaic power plants in Benban under Round 2 of the Feed-in-Tariff (FiT) program in the presence of H.E. Prime Minister of Egypt, H.E. Ambassador of Saudi Arabia, the Minister of Electricity and Renewable Energy
    • ACWA Power will to develop, finance, build, own and operate the three projects with an aggregate capacity of 165.5 MWp and total investment value of c. US$ 190 million
    • Power demand in Egypt grew by 28% in recent years with the Benban photovoltaic facility a key part of the government’s efforts to meet the country’s increasing energy needs.

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  • Paddy Padmanathan, President & CEO, ACWA Power, interview with Oxford Business Group

    Paddy Padmanathan, President & CEO, ACWA Power, interview with Oxford Business Group

    Thursday, July 27 2017

    Paddy Padmanathan, President & CEO, ACWA Power, gave an interview to Oxford Business Group (OBG), the renowned consultancy and publisher of economic reports as part of the research undertaken for The Report: Saudi Arabia 2017, the most recent report from the group on the economy of Saudi Arabia.

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  • ACWA Power and Taekwang Power Holdings granted Investment Registration Certificate for Nam Dinh 1 Thermal Power Project

    ACWA Power and Taekwang Power Holdings granted Investment Registration Certificate for Nam Dinh 1 Thermal Power Project

    Monday, July 3 2017

    The Ministry of Planning and Investment of Vietnam has issued the Investment Registration Certificate (IRC) to Nam Dinh First Power Holdings, a Singapore-based Joint Venture incorporated by Saudi Arabia’s ACWA Power and South Korea’s Taekwang Power Holdings (“Investors”), to implement the 1,200MW Nam Dinh 1 Thermal Power Project (“the Project”) in Hai Hau district of Nam Dinh province, Vietnam.

    The ceremony of IRC granting was held today in Nam Dinh City, Nam Dinh Province in the presence of representatives from Vietnam government agencies including the Ministry of Planning and Investment, Ministry of Industry and Trade, Nam Dinh People’s Committee, State Bank of Vietnam, Embassy of Republic of Korea and the Investors. The Investment Registration Certificate is one of the most important milestones for the Project pursuant to the Investment Agreement signed between the Ministry of Industry and Trade and the Investors in January 2016.  

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