ACWA POWER inks SR3 bln contract with Saudi Water Partnership

ACWA POWER Company announces the signing of the Water Purchase Agreement (WPA) for Shuaibah 3 IWP Project (the Project), a 600,000 m3/d plant located in Shuaibah governorate in Mekkah province in the Kingdom of Saudi Arabia.

The Project is part of the conversion of the existing Shuaibah 3 IWPP plant into Seawater Reverse Osmosis Plant. The WPA has been signed between Shuaibah Three Water Desalination Company (SPV between ACWA Power and Badeel Company) and Saudi Water Partnership Company (Offtaker). The project is valued around SAR 3 billion SAR.

The company added that the contract duration is 25 years and the financial impact of the contracted revenues is expected once the Project achieves Project Commercial Operating Date (PCOD) on Q2 2025G.

Additional Information:

Shuaibah 3 IWP is associated with the conversion project of the existing co-generation plant of Shuaibah 3 IWPP.

Further information in relation to the conversion project will be made available on the Company’s website as necessary.