IssuerAnnouncementDetailsV2Portlet
Actions
ACWA Power Company (acwa) announces the signing of an Energy Conversion and Water Purchase Agreement
| Element List | Explanation |
|---|---|
| Introduction | acwa led consortium signs an Energy Conversion and Water Purchase Agreement for Az-Zour North Phase 2 & 3 IWPP in Kuwait Az Zour North 2&3 Project is a Combined Cycle Gas Turbine (CCGT) plant with a power capacity of 2,700 Megawatts (MW). Furthermore, the Project will comprise a desalination component that will utilize Seawater Reverse Osmosis (SWRO) technology to produce c. 545.5 thousand m3/day. |
| Date of Announcement of the Award | 2026-02-03 Corresponding to 1447-08-15 |
| Contract Subject Matter | ECWPA - Energy Conversion and Water Purchase Agreement |
| The Entity with Which the Contract was Signed | Ministry of Electricity and Water and Renewable Energy State of Kuwait (MEWRE) |
| Date of Signing the Contract | 2026-02-03 Corresponding to 1447-08-15 |
| Contract Value | Approximately USD 4.1 Billion |
| Contract Details | The Project will be developed on a Build, Operate and Transfer (BOT) basis under a 25-year Energy Conversion and Water Purchase Agreement (ECWPA) with Ministry of Electricity, Water and Renewable Energy “MEWRE” under which MEWRE will purchase the entire Power and Water Capacity of the Plant. The ECWPA was signed between MEWRE and Gulf Alliance for Power and Water (K.S.C.P), which is owned by Kuwait Authority for Partnership Projects (“KAPP”), acwa, and Gulf Investment Corporation (“GIC”). acwa’s effective share in the project is 24%. |
| Contract Duration | 25 years from Project Commercial Operation Date |
| Financial Impact and the Relevant Period | The financial impact of the contracted revenues will be shared at the time of Financial Close. |
| Related Parties | N/A |
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.
Share
Company Performance
LoginPortletPopupv2
Actions
AddtoWatchlistv2
Actions