- HE Eng. Abdulrahman bin Abdulmohsen Al-Fadley, Minister of Environment, Water and Agriculture and Chairman of Water & Electricity Company signs the water purchase agreement.
Dubai, United Arab Emirates: ACWA Power, the leading developer, owner and operator of power generation and water desalination plants wins the largest independent water desalination plant, Rabigh 3 IWP – further expanding its desalination capacity in the Kingdom of Saudi Arabia. The water purchase agreement was signed by HE Eng. Abdulrahman bin Abdulmohsen Al-Fadley, Minister of Environment, Water and Agriculture and Chairman of Water & Electricity Company (WEC), as WEC will act as the off taker of the project.
Amongst 55 expressions of interest and five bidders, ACWA Power submitted the lowest tariff at 0.53USD/m3 and was selected to develop the desalination plant alongside the Saudi Brothers Commercial Company (SBCC) in Rabigh, Saudi Arabia. Rabigh 3 IWP will utilize reverse osmosis (RO) technology to yield a capacity of 600,000 cubic metres a-day. The innovative design of this plant ensures the highest efficiency, reliability and availability for any comparable plant in the world. The water output will cater to the water demand of Makkah al-Mukarramah and Jeddah. This will ensure consistent, reliable and steady water supply to the citizens of the two cities and village, especially during demand peak periods such as the Holy Month of Ramadan and Hajj seasons.
Commenting on the occasion, Chairman of ACWA Power, Mr. Mohammad Abunayyan said: “We take extreme pride in securing another milestone in the Kingdom that contributes to the welfare of Saudi Arabia’s economy and its citizens. As a private company, we work continuously to guarantee the right investment is being injected in the Kingdom through private public partnerships to achieve the ambitious goals of the Saudi Vision 2030.
“Rabigh 3 IWP will deliver potable water at the lowest cost achieved to date for RO while consuming the least amount of power for each cubic meter of water produced and is consequently another important step in elevating living standards in the Kingdom. Rabigh 3 IWP will contribute to economic progress and increased employment opportunities, helping the Kingdom reach the highest levels of prosperity.”
Managing Director of ACWA Power, Thamer Al Sharhan added: “We are delighted to add another flagship project to our Kingdom’s portfolio, proving our consistent support to the Saudi economy and its people. The world’s largest reverse osmosis desalination plant validates the thesis that a local developer places the interests of the home country as its utmost priority. Offering the lowest tariffs without compromising on reliability of water supply, all the while ensuring affordable clean water access to the citizens of Makkah al-Mukarramah and Jeddah. We take pride in setting the direction and being a strong driver of the progressive vision of the Kingdom of Saudi Arabia.”
The Rabigh 3 IWP is being procured under a 25-year build-own-operate (BOO) contract and will commence commercial operation on the 31st of December 2021.
About ACWA Power:
ACWA Power is a developer, investor and operator of a portfolio of power generation and desalinated water production plants currently with 49 assets in operation, construction or advance development, and employing over 3,500 people across 11 countries across the Middle East and North Africa, Southern Africa and Southeast Asia regions. ACWA Power’s portfolio, with an investment value in excess of USD 30 billion, can generate 29+ GW of power and produce over 3.2 million m3 /day of desalinated water to be mostly delivered on a bulk basis to state utilities and industrial majors on long term off-take contracts under Public-Private-Partnership, Concession and Utility Services Outsourcing models.
ACWA Power is owned by the Public Investment Fund of Saudi Arabia, the Saudi Public Pensions Agency and the International Finance Corporation (a member of the World Bank Group)and seven Saudi conglomerates.
ACWA Power pursues a mission to reliably deliver electricity and desalinated water at low cost, thereby contributing to the social and economic development of the communities and countries it invests in and serves.
ACWA Power strives to achieve success by adhering to the values of Safety, People and Performance in operating its business.