ACWA Power inked US$746m energy deals

Of the US$746m, the US$500m deal was for power generation and green ammonia projects.

Private water desalination firm, ACWA Power, revealed it signed several deals that are in total, worth US$764m, which involved green energy projects in Gulf countries and wind energy projects in Azerbaijan.

ACWA Power said it invested in US$500m heads of terms in agreement with global energy investor, EIG, to collaborate in “power generation, water desalination, green hydrogen, and green ammonia projects, with a specific focus on investing in projects in Gulf countries and Uzbekistan.”

The other agreement, meanwhile, was ACWA Power’s funding agreement with the European Bank for Reconstruction & Development and the OPEC Fund for International Development for the construction of a 240MW wind power project in Azerbaijan. Both deals are subject to the completion of the conditions precedent.

This project, which has an aggregate amount of US$246m, is the first foreign investment-based independent wind power in the Republic of Azerbaijan. It is a public-private partnership at a total investment cost of US$347m.

“The national electrical power company Azerenerji is the sole off-taker for the project, which, once completed, is expected to power nearly 300,000 households, save 220 million cubic metres of natural gas and reduce carbon emissions by more than 400,000 tonnes annually,” read the statement.

Follow the link for more news on

ACWA Power

Also Read

NSW OKs Liverpool Range Wind Farm expansion

SPNEC faces delays in project over right-of-way, grid connection issues

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

India’s Rajasthan and Gujarat need policy reforms to fuel RE transition

Some steps they could take are implementing green tariffs and setting infrastructure funds.

9 hours ago

Global clean energy tech market to hit $2t by 2035

This is fuelled by investments as countries aim to enhance energy security.The global clean energy technology market is projected to grow from $700b in 2023 to over $2t by 2035, nearing the scale of the crude oil market, according to the International Energy Agency (IEA).This growth is fuelled by significant investments in clean technology manufacturing as countries aim to enhance energy security, maintain economic competitiveness, and cut emissions. Investment is concentrated in regions with established positions in clean energy, particularly China, the European Union, the UK, and increasingly, India.Whilst the US, EU, and India have taken measures to support their clean energy sectors, China is expected to remain the world's manufacturing hub. By 2035, China's clean technology exports are forecasted to exceed $340b—comparable to projected oil export revenues from Saudi Arabia and the UAE.Southeast Asia, Latin America, and Africa contribute less than 5% of global cleantech production value, yet the IEA suggests that these areas still hold opportunities within the clean energy economy. Developing economies, for instance, could leverage competitive advantages to advance in the value chain beyond resource extraction.The IEA said Southeast Asia could become one of the most cost-effective regions for producing polysilicon and wafers for solar panels over the next decade.

9 hours ago

NSW OKs Liverpool Range Wind Farm expansion