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May 04, 2015 9:40 AM ET

Electric Utilities

Company Overview of ACWA Power International

Company Overview

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

Airport Road

P. O. Box 22616

Riyadh,  11416

Saudi Arabia

Founded in 2004


966 11 283 5555


966 11 283 5500

Key Executives for ACWA Power International

Chief Executive Officer and President
Managing Director
Corporate Communication Director
General Counsel of Projects
Compensation as of Fiscal Year 2014.

ACWA Power International Key Developments

ACWA Power and Mitsui & Co Win $630 Million Oman Power Plant Deal

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.

ACWA Power Receives USD 344 Million Loan for Dubai Solar Project

ACWA Power is set to take USD 344 million loan from three banks to finance a solar energy project in Dubai. The loan's estimated length is about 27 years with an interest rate of 4%, provided by Abu Dhabi's First Gulf Bank and two Saudi banks, National Commercial Bank and Samba Financial Group. the entire project will cost USD 400 million, of which the bank funding will account for 86%. The solar plant, being built by a syndicate of ACWA and Spain's TSK and ordered by Dubai Electricity and Water Authority (DEWA), is set to have a generating capacity of 200 megawatts.

ACWA Power International Wins 200-Mw Solar Project in Dubai

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.

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