Company History

ACWA POWER

TIMELINE

    • Azerbaijani market image

      Expanded geographic print by entering the Azerbaijani market

    • ACWA 39 Bond image

      ACWA Power’s maiden 144a-regs ACWA 39 Bond secured investment grade (BBB-) rating from Fitch

    • MoU with the Ministry of Housing and Egyptian Electricity Holding image

      Signed an MoU with the Ministry of Housing and Egyptian Electricity Holding to develop Egypt’s sustainable water desalination sector

    • Ministry of Energy of Uzbekistan image

      Signed three milestone agreements with the Ministry of Energy of Uzbekistan

    • Sustainable Loan image

      Obtained the first ever “Sustainable Loan” qualification for a desalination project for Taweelah IWP

    • Financial Closure Oman image

      Achieved financial closure for the largest solar photovoltaic power plant in Oman

    • Support Saudi National Health  image

      Contributed SAR 50 million to support Saudi national health efforts in combating the covid-19 pandemic

    • mobile hospital image

      Signed an agreement to build a fully equipped 100-bed mobile hospital in Al-Madinah Al Munawarah

    • Support Tahya Misr Fund image

      Contributed EGP 5.5 million to support Tahya Misr Fund’s efforts in combating covid-19

    • Fifth phase of the world’s largest single site solar park image

      Signed a PPA for the fifth phase of the world’s largest single site solar park with DEWA and a consortium led by ACWA Power and consisting of Gulf Investment Corporation

    • Water Purchase Agreement with SWPC image

      Signed a water purchase agreement with the Saudi Water Partnership Company (SWPC) for a greenfield sea water reverse osmosis desalination project in Jubail

    • ACWA Power Renewable Energy Holding Ltd with Silk Road Fund image

      Announced the completion of partnership over ACWA Power Renewable Energy Holding Ltd with Silk Road Fund

    • Samsung C&T’s Share image

      Acquired 4.99% of Samsung C&T’s share in Hajr Electricity Production Company

    • 500MW Ibri 2 image

      Achieved a new milestone for the 500MW Ibri 2 solar PV project, which entailed the shipment of the first 10 MWp of 24,700 bifacial solar panels

    • Air Products and NEOM image

      Signed an agreement for a $5 billion world-scale green hydrogen-based ammonia production facility powered by renewable energy with Air Products and NEOM

    • Nujood Medical Center image

      Inaugurated Nujood Medical Center in Saudi Arabia

    • Shanghai Electric for DEWA image

      Appointed Shanghai Electric as the Engineering, Procurement and Construction (EPC) contractor for the 5th phase of the Mohammed bin Rashid Solar Park

    • Abu Dhabi Sustainability Week image

      Shed light on solutions to solve the world’s energy and water challenges at Abu Dhabi Sustainability Week

    • Sohar Calciner image

      Partnered with MMEC Mannesmann to develop the ‘Sohar Calciner’ project in Oman

    • MoUs with Silk Road Fund and Huawei image

      Signed two MoUs with Silk Road Fund and Huawei to lay ground for collaboration in investments and technological advancements

    • Rabigh 3 IWP image

      Signed financial agreements for Rabigh 3 IWP to generate 600,000 cubic meters a-day

    • Khalladi’s capital image

      Opened 24% of Khalladi’s capital to SAHAM Assurances, a new institutional partner in Morocco

    • Marubeni’s stake image

      Increased shareholding to 74% in RAWEC after buying all of Marubeni’s stake

    • press conference with DEWA and Chinese partners image

      Hosted press conference with DEWA and Chinese partners for the financial closure of Noor Energy 1

    • strategic agreements image

      Signed strategic agreements with PowerChina, China Gezhouba Group Company (CGGC) and Bank of China during the second Belt and Road Forum

    • Ibri-2 PV IPP image

      Signed Oman’s largest utility-scale 500MWac Ibri-2 PV IPP with Gulf Investment Corporation and Alternative Energy Projects

    • EMEA Project Finance Awards image

      Won Best Natural Resource deal of the year at the EMEA Project Finance Awards for Sohar Calciner project in Oman

    • Silk Road Fund agreement image

      Signed agreement with Silk Road Fund introducing it as a 49% shareholder in ACWA Power Renewable Energy Holding Ltd (RenewCo)

    • MoU with the National Grid Saudi Arabia and Chinese CET image

      Signed an MoU for new opportunities in cross-border interconnections and power grids with the National Grid Saudi Arabia and Chinese CET

    • Vinh Hao 6 PV IPP image

      Achieved commercial operation of 50MWp Vinh Hao 6 PV IPP in Vietnam

    • Umm Al Quwain image

      Inked agreements for a desalination plant in Umm Al Quwain with FEWA and Mubadala to produce 150 Million Imperial Gallons per day

    • Shuaibah Expansion II IWP image

      Inaugurated Shuaibah Expansion II IWP, the world’s fastest implemented water desalination plant

    • WEC 2019 image

      Highlighted its role in the sustainable development of the energy and water sectors at WEC 2019 in Abu Dhabi

    • Al Taweelah IWP image

      Signed WPA with EWEC for Al Taweelah IWP – the world’s largest reverse osmosis desalination facility – which will produce 909,200 cubic meter of water a day

    • MoU with Iraq Energy Institute image

      Signed an MoU with Iraq Energy Institute to strengthen energy market research in the Republic of Iraq

    • Climate Bonds Initiative certification image

      Received Climate Bonds Initiative certification for Renewable Energy Project Financing for Noor Energy 1 - making it the first certified project in the GCC region

    • Bangladesh image

      Inked MoU for 3,600 MW gas plant in Bangladesh

    • Ethiopia’s PPP image

      Awarded two 125 MW (total capacity 250 MW) solar projects in first round of Ethiopia’s PPP programme

    • WETEX 2019 image

      Participated in WETEX 2019

    • Kom Ombo image

      Signed the PPA for 200 MW Kom Ombo Plant in Egypt

    • NMES image

      Launched a new company – NMES – with NOMAC to provide advanced maintenance solutions for power and water plants in the Middle East

    • Umm Al Quwain financial closure image

      Achieved financial closure of the largest desalination plant in Umm Al Quwain

    • Connected Sakaka PV IPP image

      Connected Sakaka PV IPP to the national grid and commenced initial production

    • AIICO image

      Established a new business unit, AIICO, dedicated to enhancing local content in Saudi Arabia

    • Risha PV image

      Commenced commercial operations at Risha PV in Jordan

    • PV projects in Ethiopia image

      Signed a 20-year PPA agreement for 250 MWac PV projects in Ethiopia

    • MoU with SABIC image

      Signed an MoU with SABIC for pursuing opportunities to enhance local content in the economy of the Kingdom of Saudi Arabia

    • acwapower timeline_image1 image

      Achieves financial close of three solar PV projects in Egypt

    • ACWA Power and Huawei 2 image

      ACWA Power and Huawei roll out a centralised control & monitoring pilot project

    • Solar Coin 3 image

      Named the first utility-scale generator to adopt SolarCoin

    • Sakaka PV 4 image

      Wins 300 MW SKAKA PV IPP, the first utility scale renewable energy plant under the Saudi National Renewables Energy Program.

    • Salalah 2 IPP image5 image

      H.H. Sayyid Shihab bin Tariq al-Said inaugurates 445 MW Greenfield Salalah 2 IPP project in Oman

    • Noor Energy 1 image

      H.H. Sheikh Mohammed bin Rashid Al Maktoum breaks ground on Noor Energy 1, the biggest Concentrated Solar Power project in the world

    • Salalh IWP image

      ACWA Power-led consortium signs a number of agreements with Oman Power and Water Procurement Company to establish the Salalah Water Project

    • King’s Academy campus image

      His Royal Highness Crown Prince Al Hussein bin Abdullah II inaugurates 2.6 MW solar photovoltaic facility on King’s Academy campus

    •  Energy China image

      ACWA Power and Energy China sign a memorandum for power and water desalination co-operation across the Middle East and Asia.

    • Khalladi Wind image

      Inauguration of 120 MW Khalladi Windfarm in Morocco

    • PIF image

      The Public Investment Fund (PIF) of Saudi Arabia acquires 15.2% equity interest in ACWA Power, resulting in a total shareholding directly and indirectly of 24.98%.

    • aramco JV image

      ACWA Power, Saudi Aramco, and Air Products sign a Term Sheet to form an over US$8 billion Gasification/Power joint venture in Saudi Arabia

    • Zarqa Jordan image

      Commercial operation begins at Zarqa Combined-Cycle Power Plant in Jordan.

    • tool to mitigate climate change and empower women image

      ACWA Power, ECOHZ, and WOCAN partner to provide companies a tool to mitigate climate change and empower women through projects in Morocco and South Africa.

    • Khalladi wind  image

      ACWA Power’s Khalladi wind farm is first to qualify for the International Renewable Energy Certificate Standard

    • PPA with the Egyptian Electricity Transmission Company image

      ACWA Power-led consortium signs a power purchase agreement (PPA) with the Egyptian Electricity Transmission Company for a gas-fired combined cycle plant in Egypt

    • Noor Energy 1 image

      Noor Energy 1 expanded to include 250 MW of photovoltaic panels to generate a total of 950 MW

    • Sakaka PV image

      Achieved financial closure of the c. SAR 1.2 billion Sakaka PV IPP

    • Sakaka PV image

      King Salman bin Abdulaziz of Saudi Arabia breaks ground on Sakaka PV IPP

    • W+ image

      ACWA Power, WOCAN, and ECOHZ witness the first utility transition of W+ from the NOORo Power plant in Morocco that empowers women

    • Rabigh 3 IWP image

      Wins Rabigh 3 IWP, the world’s largest independent water desalination plant

    • acwapower timeline_image1 image

      H.H. Sheikh Mohammed bin Rashid Al Maktoum inaugurates 200 MW second phase of the Mohammed bin Rashid Al Maktoum Solar Park

    • acwapower risha pv 2 image

      ACWA Power Agrees Risha Jordan PV deal with record-low tariff

    • acwapower noor pv 2017 3 image

      King Mohammed VI of Morocco launches the NOOR PV I Program in Ouarzazate

    • acwapower timeline image4 image

      Dubai to get Solar Power day and night without subsidy at lower cost than Gas-fired electricity

    • acwapower timeline_image5 image

      ACWA Power awarded three Solar PV projects under Round 2 of Egypt FiT program II

    • acwapower drone kirikkale turkey nov 16 10 image

      ACWA Power officially inaugurates Kirikkale Power Plant in Turkey

    • acwapower acwa risha pv image

      ACWA Power Risha achieves financial close for 61.3 MWp Solar PV IPP in Jordan

    • acwapower timeline image2 image

      ACWA Power, Mitsui & DIDIC Consortium win Salalah 2 IPP and acquires Dhofar Generating Company in Om

    • acwapower khalladi-31-07-2017-9 image

      ACWA Power Khalladi confirms final orders for its Wind Power Project in the North of Morocco

    • acwapower sohar-3-ipp_image image

      ACWA Power Consortium led by Mitsui wins largest single tendered independent power project in Oman producing 3,219 MW

    • acwapower proposed image hassyan clean coal plane phase 1 2016 image

      Hassyan Energy Phase 1 reaches financial close on DEWA’s 2.4 GW Hassyan Clean Coal Project with signing of US$ 2.47 Billion financing

    • acwapower acwa mafraq logo image

      ACWA Power Mafraq signs financial agreements for 60.3 MWp Solar PV IPP in Jordan

    • acwapower shuaa 200mw march 2017 image

      Successful bid for Shuaa Energy PV IPP in Dubai, UAE

    • acwapower timeline image2 image

      Successful bid for Salalah 2 IPP, Oman

    • acwapower nooro iii morocco nov 16 2 image

      Achieved financial close of NOORo II CSP IPP and NOORo III CSP IPP, Morocco

    • acwapower shuaa west side view march 2017 comhistory image

      Achieved Financial Close for Shuaa Energy 1 PV IPP, UAE

    • acwapower salalah greenfield 2 comhistoty image

      Commence construction of Salalah 2 IPP and integrated Dhofar Generating Company, Oman

    • acwapower bokpoort csp autumn solar fields image

      Commenced construction for Bokpoort CSP IPP, South Africa

    • acwapower solar fields noor hot day id image

      Commenced construction for NOORo I in Ouarzazate, Morocco

    • acwapower timeline image4 image

      Acquired Bioservis Benesov (BSB), Waste 2 Energy (W2E) plant, Czech Republic

    • acwapower timeline image5 image

      Commenced construction for Al Mourjan IPP, Saudi Arabia

    • acwapower timeline image1 image

      Achieved financial close and began construction of Hajr IPP, Saudi Arabia

    • acwapower rabigh ipp li qiang 2016 2 image

      Rabigh IPP commences commercial operations, Saudi Arabia

    • acwapower timeline image5 image

      Succesful bid for Al Mourjan IPP, Saudi Arabia

    • acwapower timeline image4 image

      ACWA Power closes its second Corporate Murabaha Facility of SAR 1.775 Bn

    • Achieved Financial Close for Hajr IPP 2012-image

      Achieved Financial Close for Hajr IPP, Saudi Arabia

    • acwapower aqaba thermal li qiang 2016 3 image

      Increased the effective stake in CEGCO, Jordan

    • acwapower grass and solar panels below cloudy sky karadzhalavo bulgaria 2013

      Acquired a 42% controlling stake in Karadzhalovo PV IPP, Bulgaria

    • acwapower aerial view evening plant lit up image

      Signed WPA for the Phase 1 Expansion of Barka 1 IWPP’s water desalination capacity by 10 MIGD, Oman

    • acwapower timeline_image5 image

      Increased effective shareholding in NOMAC by 35%

    • acwapower timeline image1 image

      Signed the PPA for Hajr IPP, Saudi Arabia

    • acwapower aqaba thermal li qiang 2016 3 image

      Closed acquisition of CEGCO, Jordan

    • acwapower drone kirikkale turkey nov 16 10 image

      Signed a joint development agreement for the Kirikkale CCGT IPP, Turkey

    • acwapower timeline image4 image

      Inaugural Corporate Murabaha Facility (USD 300 Mn) closed

    • acwapower aerial view evening plant lit up image

      Barka 1 IWPP completely integrated into ACWA Power portfolio

    • acwapower rabigh ipp li qiang 2016 2 image

      Successfully bid and achieved Financial Close of Rabigh IPP, Saudi Arabia

    • acwapower timeline_image5 image

      ACWA Power formed with c. USD 800 Mn capital

    • acwapower rabigh iwpp image

      Bowarege IWPP and Petro-Rabigh IWSPP commence commercial operations

    • acwapower shuaibah expansion iwp li qiang 2016 comhistory image

      ACWA Power added Shuaibah Expansion IWP, Saudi Arabia

    • acwapower marafiq-iwpp-li-qiang-2016 image

      Achieved Financial close of Shuqaiq IWPP and Marafiq IWPP, Saudi Arabia

    • acwapower petro rabigh phase 1 boilers 2016 image

      Achieved Financial Close of Shuaibah IWPP and PetroRabigh IWSPP, Saudi Arabia

    • acwapower shuqaiq-ksa image

      Successful bids for Shuqaiq IWPP and Marafiq IWPP, Saudi Arabia

    • acwapower shuaibah-iwpp-2017-29 image

      Successful bids for Shuaibah IWPP & Petro-Rabigh IWSPP in Saudi Arabia shortly after formation

    • acwapower timeline_image5 image

      ACWA Power Projects formed in 2004 – the forerunner of present day ACWA Power

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