#ACWA Power
The initial phase of the project will generate 3,000 tonnes of green hydrogen annually, with the subsequent phase harnessing 2.4 GW of wind energy to produce 500,000 tonnes of green ammonia
The parties will collaboratively explore the establishment of a green hydrogen export corridor between ACWA Power’s hydrogen production sites and the port of Amsterdam
In the past, the energy company has partnered successfully with Chinese companies in installing the largest wind turbine in Central Asia among other projects
ACWA Power signed the strategic cooperation agreements at the Saudi-Italian Investment Forum held in Milan on September 4
The $914m (Dhs3.36bn) Independent Water Producer project has a projected capacity of 180 million imperial gallons per day
Operating income — before impairment, loss and other expenses — for the six-month period stood at SAR1,289m
The 500MW Bash wind farm project is located in the Bukhara region of Uzbekistan
The power plant is expected to provide the Egyptian economy with $6.5bn in savings in annual natural gas costs and create up to 120,000 job opportunities
The solar farm will generate enough electricity to power approximately 160,000 homes across the UAE
The fifth phase of the Dubai solar park is expected to power 270,000 homes and offset 1.18 million tonnes of carbon emissions per year
With the head of terms agreement announced earlier this year, the 1GW wind project represents ACWA Power’s entry into Kazakhstan
The facility is currently producing 183 MIGD of desalinated water making Taweelah the world’s largest operating reverse osmosis facility
The green hydrogen production plant is currently being built at Oxagon in Saudi Arabia’s NEOM region
The new solar projects, which will be jointly owned with ACWA and PIF’s Badeel, will have a combined production capacity of 4.55 GWac
The project already has equity bridge loans of $14m from the EBRD and $45m from the APICORP
The loans will support the construction and operation of the 500MW Dzhankeldy wind farm and the 500MW Bash wind power plant in Uzbekistan
The project marks ACWA Power’s entry into the Central Asian country with an initial investment of $1.5bn
The project, expected to be valued at $2.4bn, will offset 2.4 million tonnes of carbon emissions per year and power 1.65 million households
The 2,060MW solar plant is set to be developed in Saudi Arabia’s Makkah province
Construction of the $5bn plant in the north-west of the kingdom has started
ACWA Power owns 51 per cent of the 5 GW Sirdarya combined cycle gas turbine facility, with Silk Road Fund obtaining a 49 per cent stake
The projects initiated will support Uzbekistan’s aim to diversify its energy mix, as it targets 8 GW and 12 GW of solar and wind capacity by 2026 and 2030, respectively
The facility would be powered by renewable energy and produce green energy products
ACWA Power earned an operating income before impairment loss and other expenses of SAR517m, which was 19.5 per cent higher than the same period in 2021
EFG Hermes has advised on other landmark listings such as ACWA Power’s offering on Tadawul and ADNOC Drilling’s milestone IPO on ADX
The kingdom’s sovereign wealth fund signed non-binding memorandums of understanding with five companies
The 950MW fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park has investments totalling Dhs15.78bn based on the IPP model
The listing is one of the largest offerings in the kingdom since Saudi Aramco’s IPO in 2019
ACWA Power is now valued at $14.2bn, making it one of the biggest listed companies in Riyadh
Initial demand amounted to several billion dollars