Company Overview of ACWA Power International
ACWA Power International develops, invests, and operates power generation and desalinated water production plants. The company’s current portfolio of investments delivers electricity and desalinated water in Saudi Arabia, Jordan, and Oman. The company was founded in 2004 and is headquartered in Riyadh, Saudi Arabia. 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 2014.
ACWA Power International Key Developments
ACWA Power International Wins 200-Mw Solar Project in Dubai
Jan 15 15
ACWA Power International has won a tender to build a 200-MW solar park in Dubai, the second phase of the Mohammed bin Rashid Al-Maktoum solar project. The Dubai Electricity & Water Authority (DEWA) announced it has selected the tie-up, as the preferred bidder for the photovoltaic (PV) project. ACWA Power bid an unprecedented USD 0.0598625 (EUR 0.0509) per kWh as part of the tender. The project was planned to be of 100 MW, but the very low power price bid motivated DEWA to double the targeted capacity. DEWA noted that it will work with the consortium to achieve financial close next month. The whole Mohammed bin Rashid Al-Maktoum solar complex will total 1 GW. The first phase of the project, with a capacity of 13 MW, was completed by First Solar Inc. in October 2014. Phase II will become operational by April 2017, while the whole complex is expected to be up and running in 2030.
ACWA and Abengoa Reported The Lowest Bids For Morocco Ouarzazate CSP Plants
Nov 15 14
The second phase of Moroccan Ouarzazate CSP project has received lowest bids from Abengoa SA (CATS:ABG) and ACWA Power International, Reuters reported citing sources involved in the deal. The official result for the tender is expected in the coming weeks. The three consortium selected to bid for Noor II, a 200 MW parabolic trough plant were Abengoa SA (CATS:ABG) and Abengoa Solar S.A.; ACWA Power International and SENER Grupo de Ingeniería, S.A. and International Power SA and Masdar. For the Noor III, a 100 MW CSP plant, the consortiums selected were Abengoa SA (CATS:ABG) and Abengoa Solar S.A.; Electricite de France SA (ENXTPA:EDF), EDF Energies Nouvelles S.A., BrightSource Energy, Inc., Brookstone Partners, Alstom Power System SA and Mitsui & Co. Ltd. (TSE:8031); ACWA Power International and SENER Ingeniería y Sistemas S.A.; International Power SA, SolarReserve, LLC and Masdar.
ACWA Power Raises SAR 1,775 Million from Inaugural Revolver Facility
Jan 4 14
ACWA Power announced the successful closing of its SAR 1,775 million, 5 year revolving corporate facility structured on a fully haria compliant commodity murabaha basis with four Saudi financial institutions. These include Banque Saudi Fransi, the National Commercial Bank and Samba Financial Group as facility participants with substantial take and hold levels ranging between SAR 300-550 million each.
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July 7, 2014