Newsletters
Saudi Arabian utility developer ACWA Power has secured a $400 million public-private partnership contract in Azerbaijan to design, build, own, and operate the country’s first large-scale seawater desalination facility.
The project will be located on the Caspian Sea, and the Gulf-based company will retain full ownership, the company announced on Sunday.
According to the company's statement to the Saudi stock exchange, Tadawul, the contract covers a 27.5-year term, which includes both the construction period and the operational phase. Under the terms of the agreement, ACWA Power will be responsible for the full scope of the project, engineering, construction, financing, ownership, and long-term operation and maintenance of the desalination plant.
The facility will utilize seawater reverse osmosis (SWRO) technology, a widely adopted method that forces seawater through specialized membranes to remove salts and impurities, producing freshwater suitable for municipal or industrial use.
Headquartered in Riyadh, ACWA Power is a Saudi Arabian developer, investor, and operator of power generation and desalinated water production plants, holding total assets of 68.61 billion Saudi riyals ($18.28 billion).
Listed on the Saudi Stock Exchange (Tadawul), the company has operations across the Middle East, Africa, Central Asia, and Southeast Asia, managing a diversified portfolio that includes conventional and renewable energy as well as water infrastructure.
Earlier this year, Turkish media reported that ACWA Power plans to invest $2 billion in Türkiye’s renewable sector, with two solar power plants totaling 2 gigawatts of capacity slated for development in the central provinces of Sivas and Karaman.
Set as preferred source
1 min read
1 min read
