ACWA Power’s unit pens SAR 3bn deal with SWPC

ACWA Power’s unit pens SAR 3bn deal with SWPC

Riyadh – Mubasher: Shuaibah Three Water Desalination Company, owned by ACWA Power Company and Badeel Company, has sealed a water purchase agreement worth SAR 3 billion with Saudi Water Partnership Company (SWPC).

The two entities will collaborate to convert Shuaibah 3 Independent Water and Power Project (IWPP) in Mekkah into a seawater reverse osmosis (SWRO), according to a recent statement.

Upon the 25-year contract, the listed company will be responsible for the development, construction, and operation of 600,000 cubic metres of water per day.

Chairman of ACWA Power, Mohammad Abunayyan, said: “This is the first project in which a thermal water desalination plant is converted into a greenfield reverse osmosis facility that utilises renewable energy to save up to 70% of energy consumption.”

ACWA Power noted that the financial impact is expected to reflect on the financial results once the project is commercially operational by the second quarter (Q2) of 2025.

Last April, the Saudi listed firm signed a limited notice to proceed (LNTP) agreement for NEOM Green Hydrogen project at a value of $900 million.