Saudi’s ACWA Power unveils new project bids

Saudi’s ACWA Power unveils new project bids

Saudi Arabia’s ACWA Power is in the final stages of submitting a bid to develop and operate the Amaala Utilities PPP (Public-Private Partnership) project in the Kingdom, which will serve the Amaala giga-tourism project on the Red Sea coast, according to its second quarter and first half 2022 investor report.

The report, quoting Vice Chairman and CEO Paddy Padmanathan, said the company is in the bid preparation and submission stages for a 500-megawatt (MW) solar photovoltaic Independent Power Plant (IPP) project in Uzbekistan and the 600,000 cubic metres per day Rabigh 4 Independent Water Plant (IWP) project in Saudi Arabia.

Additionally, the Tadawul-listed company has submitted an evaluation proposal to the Saudi sovereign wealth fund, Public Investment Fund (PIF), for developing the next mega projects in the Fund’s renewable energy deployment pipeline.

ACWA Power is part of the consortium developing 1,500 MW Sudair solar power plant, a key project under the PIF’s renewable energy programme.

Padmanathan said ACWA Power is also closing in towards signing the engineering, procurement and construction (EPC) contract and completing the final stages for financial close for world’s largest “green hydrogen production project under construction” in NEOM in the fourth quarter of 2022.

In the first quarter, the NEOM Green Hydrogen