Company Overview of ACWA Power International
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
P. O. Box 22616
Founded in 2004
Key Executives for ACWA Power International
Chief Executive Officer and President
Corporate Communication Director
General Counsel of Projects
Compensation as of Fiscal Year 2014.
ACWA Power International Key Developments
ACWA and Abengoa Reported The Lowest Bids For Morocco Ouarzazate CSP Plants
Nov 15 14
The second phase of Moroccan Ouarzazate CSP project has received lowest bids from Abengoa SA (CATS:ABG) and ACWA Power International, Reuters reported citing sources involved in the deal. The official result for the tender is expected in the coming weeks. The three consortium selected to bid for Noor II, a 200 MW parabolic trough plant were Abengoa SA (CATS:ABG) and Abengoa Solar S.A.; ACWA Power International and SENER Grupo de Ingeniería, S.A. and International Power SA and Masdar. For the Noor III, a 100 MW CSP plant, the consortiums selected were Abengoa SA (CATS:ABG) and Abengoa Solar S.A.; Electricite de France SA (ENXTPA:EDF), EDF Energies Nouvelles S.A., BrightSource Energy, Inc., Brookstone Partners, Alstom Power System SA and Mitsui & Co. Ltd. (TSE:8031); ACWA Power International and SENER Ingeniería y Sistemas S.A.; International Power SA, SolarReserve, LLC and Masdar.
ACWA Power Raises SAR 1,775 Million from Inaugural Revolver Facility
Jan 4 14
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
Dec 2 13
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.
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