ACWA Power Consortium and the Red Sea Development Company have signed a 25-year Utilities Concession Agreement with a total investment value of US$1.5 billion for the development/construction/operation of a multi-utilities Project. TRSDC via its affiliate acts as the sole off-taker.
The project will be located in Saudi Arabia Red Sea coast between the localities of Umluj and Al Wajh and will be developed as a ‘Build, Own, Operate, Transfer’ project. ACWA Power will take the lead in the construction, engineering, operations and maintenance of the plants delivering power from renewable sources, water, treating wastewater, providing cooling via district plants and handling the municipal solid waste with no landfill at site.
Worth noting, the energy will be generated via solar panels and the largest BESS plant for a captive use (around 1.200 GWh) to meet the initial demand of TRSDC with the ability to expand in line with the development. This largest battery storage facility will allow the destination to remain completely off-grid and powered by renewables day and night.
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