ACWA acquires controlling stake in Jordan Power Co
Saudi firm signs agreement with CEGCO for controlling stake in company
ACWA Power International, a Saudi firm specialising the development of privately owned and financed power generation and desalinated water production plants, has announced it has entered into an agreement with Jordan Dubai Capital (JDC) to acquire a controlling stake in Jordan's Central Electricity Generation Company (CEGCO)
The power and desalination developer, operator and owner has been responsible, as part of a consortium, for seven large projects, including the Marafiq Jubail IWPP, Shuqaua IWPP, Shuaibah IWPP and, in Oman, the Barka 1 IWPP.
CEGCO, Jordan’s largest power generator, currently runs seven power plants in the country, with a generating capacity of 1,700 megawatts. Meeting 50 per cent of the country’s power needs, its plants operate using LNG and oil, and also include a 15-year-old wind farm.