Company Overview of ACWA Power International
ACWA Power International develops, invests in, owns, and operates power generation and desalinated water production plants. Its portfolio of assets and investments delivers power and desalinated water in Saudi Arabia, Jordan, and Oman. The company also operates a solar plant in Karadzhalovo, Bulgaria. The company was founded in 2004 and is headquartered in Riyadh, Saudi Arabia with international offices in Dubai, Beijing, Istanbul, Johannesburg, and Rabat. It also has plants in GCC, Jordan, Turkey, North Africa, and South Africa. ACWA Power International operates as a subsidiary of ACWA Holding Company.
2nd Floor, Building 5
Business Gate Office Complex
P. O. Box 22616
Founded in 2004
Key Executives for ACWA Power International
Chief Executive Officer and President
Corporate Communication Director
General Counsel of Projects
Compensation as of Fiscal Year 2015.
ACWA Power International Key Developments
Aljomaih And Qatar Investment Reportedly In Talks To Acquire Stake In Edra
Jun 17 15
Aljomaih Holding Company and Qatar Investment Authority are known to be in discussions to acquire about 49% stake in Edra Global Energy Bhd, a wholly owned unit of 1Malaysia Development Berhad (1MDB), sources said. The stake sale is known to be part of a prelude to a possible flotation exercise on Bursa Malaysia. “Earlier indications were that the listing (of Edra) was off, but there seems to have been a revival of the plan to float Edra's shares on the local bourse. The logic is that if 1MDB were to sell the power generation assets now, it (1MDB) would get a fire-sale price as everyone knows the pressure it is under. On the other hand, if some cash was obtained — like from selling just 49% — merely to settle some of the more pressing loans, after which 1MDB would then renegotiate the remaining debt commitments, 1MDB may be able to still hold on to control of Edra while solving its problems," the source explains. At present, several parties such as IJM Corporation Berhad (KLSE:IJM), Tenaga Nasional Berhad (KLSE:TENAGA), Sembcorp Industries Ltd (SGX:U96), ACWA Power International and San Miguel Corporation (PSE:SMC) are known to have expressed interest in Edra. "These assets under Edra are national assets. 1MDB is a GLC (government-linked company) so there is a need to be prudent and not just sell the assets quickly, sweep all the problems under the carpet - there is a need to get the best value from the sale," the source adds. The enterprise value of Edra is in the region of MYR 16 billion to MYR 18 billion. News reports have the value of Edra based on the sale to the interested parties pegged at around MYR 15 billion.
Acwa Power International Reportedly Mulls Acquisitions Of Assets From 1Malaysia Development Berhad
Jun 5 15
Acwa Power International, the Saudi power developer is among parties that have expressed interest in 1Malaysia Development Berhad’s energy assets, people with knowledge of the matter said. The companies have indicated they may bid for power plants owned by the state investment fund if they become available, the people said, asking not to be named as the information is private. A spokesman for 1MDB declined to comment, while a representative for Acwa didn’t immediately respond to requests for comment outside regular business hours in Saudi Arabia.
ACWA Power and Mitsui & Co Win $630 Million Oman Power Plant Deal
Mar 23 15
ACWA Power and Japan's Mitsui & Co announced that they had won a contract from Oman's government to build and operate a $630 million, 445 megawatt natural gas-fired power plant at the city of Raysut. The contract was won along with Dhofar International Development and Investment Holding Co, which will take 10% of the project. The companies will each take 45%. The partners will sell electricity to Oman under a 15-year agreement with the new plant to be operational in January 2018. As part of the deal, the consortium will acquire Dhofar Generating Co.
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