IssuerAnnouncementDetailsV2Portlet
ACWA Power Co. announces signing of a water purchase agreement with the Saudi Water Partnership Company (SWPC)
Element List | Explanation |
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Introduction | ACWA Power Co. announces signing a water purchase agreement (WPA) between Ras Mohaisen First Water Desalination Company, (the project company), and the Saudi Water Partnership Company for the development, construction, operation and ownership of a water desalination plant using reverse osmosis technology with a capacity of up to 300,000 m³/day and associated infrastructure and facilities including potable water tanks with a capacity of 600,000 m³. These facilities will be located in the Western Province of the Kingdom of Saudi Arabia, 300 km to the south of Makkah, on the coast of the Red Sea. ACWA Power’s effective shareholding in the project company is 45%. |
Date of Announcement of the Award | 2025-02-05 Corresponding to 1446-08-06 |
Contract Subject Matter | Water Purchase Agreement (WPA). |
The Entity with Which the Contract was Signed | Saudi Water Partnership Company (SWPC) |
Date of Signing the Contract | 2025-02-05 Corresponding to 1446-08-06 |
Contract Value | 2.5 billion SAR |
Contract Details | Development, construction, operation and ownership of a water desalination plant and potable water storage facilities. |
Contract Duration | 25 years from the final PCOD |
Financial Impact and the Relevant Period | The financial impact of the contracted revenues is expected to materialize when the facilities become commercially available, expected in Q1 2030. |
Related Parties | NA |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.