September 21, 2014 9:45 PM ET

Electric Utilities

Company Overview of ACWA Power International

Company Overview

ACWA Power International operates as a developer, investor, co-owner, and operator of power and desalination plants. The company’s current portfolio of investments delivers electricity and desalination water in Saudi Arabia, Jordan, and Oman. The company was founded in 2004 and is based in Riyadh, Saudi Arabia. ACWA Power International operates as a subsidiary of ACWA Holding Company.

2nd Floor, Building 5

Business Gate Office Complex

Airport Road

P. O. Box 22616

Riyadh,  11416

Saudi Arabia

Founded in 2004

Phone:

966 11 283 5555

Fax:

966 11 283 5500

Key Executives for ACWA Power International

Chief Executive Officer and President
Managing Director
Corporate Communication Director
General Counsel of Projects
Compensation as of Fiscal Year 2014.

ACWA Power International Key Developments

ACWA Power Raises SAR 1,775 Million from Inaugural Revolver Facility

ACWA Power announced the successful closing of its SAR 1,775 million, 5 year revolving corporate facility structured on a fully haria compliant commodity murabaha basis with four Saudi financial institutions. These include Banque Saudi Fransi, the National Commercial Bank and Samba Financial Group as facility participants with substantial take and hold levels ranging between SAR 300-550 million each.

ACWA Power International Enters into Power Purchase Agreement with Saudi Electricity Company

AL KHOBAR consortium led by ACWA Power International has entered into a power purchase agreement with Saudi Electricity Company (SEC) to finance, build and operate the Rabigh 2 power project. The project involves setting up the Al Mourjan for Electricity Production company, a split venture between SEC and the consortium which also includes Samsung C&T. The project will deliver 2,060 MW of electricity to SEC under a 20-year agreement, from the scheduled commercial operational date of June 2017. ACWA said 74% of the nearly SAR 5.1 billion ($1.36 billion) project would be financed through senior debt with the rest in the form of equity bridge loans.

ACWA Power Mulls IPO

ACWA Power International is pressing ahead with plans for a stock market listing. Paddy Padmanathan, Chief Executive of ACWA Power, told Reuters that Acwa could launch an initial public offering (IPO) in 2014, though no time had been set yet. "We have completed studies for the IPO and we will start now to choose advisers, but I can't say when we would launch it," Padmanathan said. "Initially we would launch it in the Saudi market, but we could be listed in other countries," he added.

Similar Private Companies By Industry

Company Name Region
Power and Water Utility Company for Jubail and Yanbu Middle East/Africa
Creative Energy Resources Corporation Middle East/Africa
Hajr Electricity Production Company Middle East/Africa
ACWA Holding Company Middle East/Africa
Saudi Masader Co. For Water, Power & Gas. Middle East/Africa

Recent Private Companies Transactions

Type
Date
Target
Private Placement
July 7, 2014
--
Merger/Acquisition
January 27, 2014
20% Interest in Shuweihat CMS Int'l Power and 50% Interest in Shuweihat O&M Ltd.
 

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