Riyadh, KSA : ACWA Power, a leading Saudi developer, investor, and operator of power generation, water desalination and green hydrogen plants worldwide, and Korea Electric Power Corporation (KEPCO), South Korea’s largest electric utilities provider, today signed an extensive memorandum of understanding (MoU) that proposes a potential partnership in the development of green hydrogen/ ammonia projects […]
ACWA Power strengthens C-suite with new leadership appointments – EQ Mag Pro
Abdulhameed Al Muhaidib appointed new CFO Kashif Rana, former CFO, takes over as Chief Portfolio Management Officer Riyadh, KSA : 29 August 2022: ACWA Power, a leading Saudi developer, investor, and operator of power generation, water desalination and green hydrogen plants worldwide, today announced changes at the executive leadership level. Kashif Rana, formerly the company’s […]
Saudi Arabia’s ACWA Power Expands Its Energy Portfolio in Uzbekistan – EQ Mag Pro
Inks three major development agreements valued at more than US$12billion on the occasion of the state visit of H.E. Shavkat Mirziyoyev, President, Republic of Uzbekistan to the Kingdom of Saudi Arabia Uzbekistan will become the second largest country for ACWA Power in terms of overall investment Company formalises agreement for c.US$2.4billion 1.5GW wind farm in […]
ACWA Power announces quarterly and semi-annual financial results – EQ Mag Pro
Consolidated net profit attributable to equity holders of the parent for the first six months reached SAR542 million, a 21% increase year-on-year. Operating income before impairment loss and other expenses for the same period at SAR1,153 million increased by 9% The Company’s share of renewable energy capacity in its power generation portfolio reached 37% with […]
ACWA Power Enters PPA For Layla Solar Plant of 91 MW With Saudi Power Procurement Company – EQ Mag Pro
ACWA Power has secured a PPA for its 91 MW Layla Solar Project in Saudi Arabia with SPPC It will be located in Al-Aflaj governorate of Riyadh province and will be owned by ACWA Power as 40.1% stakeholder The project will be realized for SAR 401 million with a commercial operations timeline of Q1/2024 Saudi […]
ACWA Power, OQ, And Air Products Sign Joint Development Agreement Toward World-Scale Green Hydrogen-Based Ammonia Production Facility in Oman – EQ Mag Pro
LEHIGH VALLEY, PA; MUSCAT, OMAN; AND RIYADH, KINGDOM OF SAUDI ARABIA : ACWA Power (TADAWUL:2082), OQ, Oman’s leading integrated energy group, and Air Products (NYSE:APD) today signed a joint development agreement (JDA) toward a multibillion-dollar investment in a world-scale green hydrogen-based ammonia production facility powered by renewable energy in Oman. The JDA signing follows a […]
ACWA Power Inks Power Purchase Agreement For 700 MW AR RASS Solar Pv Project In Saudi Arabia – EQ Mag Pro
PPA agreement signed with Saudi Power Procurement Company, the principal buyer, for a 25-year period Located in central Saudi Arabia, the US$450 million (SAR1.7 billion) project is set to be commissioned by Q4 2024 Riyadh, Kingdom of Saudi Arabia: ACWA Power, a leading developer, investor and operator of power generation, desalinated water and green hydrogen […]
ACWA POWER BREAKS GROUND ON UZBEKISTAN’S FIRST PUBLICLY TENDERED WIND PROJECT – EQ Mag Pro
Company won bid after proposing lowest tariff in competitive tender US$108 million Nukus wind project is the first renewable energy project governed by new PPP law First wind project in Karakalpakstan, in Northwestern Uzbekistan Tashkent, Uzbekistan: ACWA Power, a leading Saudi developer, investor and operator of power generation, desalinated water and green hydrogen plants worldwide, […]
AN ACWA POWER-LED CONSORTIUM AND OMAN POWER AND WATER PROCUREMENT COMPANY INAUGURATE IBRI 2 PV IPP, OMAN’S LARGEST UTILITY-SCALE RENEWABLE ENERGY PROJECT – EQ Mag Pro
Ibri 2 is the first solar IPP to connect to the main national grid The US$417 million solar plant with a capacity of 500 MW completed construction within 13 months at the highest health and safety standards The project will supply an estimated 50,000 homes with electricity and will offset 340,000 tonnes of carbon dioxide […]
HRH Saudi Minister of Energy, the President of Azerbaijan and ACWA Power break ground on SAR 1.1 billion wind project, the first and largest foreign investment in Azerbaijan’s renewable power sector – EQ Mag Pro
Baku, Azerbaijan: The Azerbaijani Ministry of Energy and ACWA Power held a groundbreaking ceremony for the 240 MW wind power plant with an investment value of SAR 1.125 billion (US$300 million), following the signing of power purchase, investment and transfer agreements according to an independent power generation project model. The ceremony was attended by His […]