ACWA Power leads $1bn Solar project in Morocco
Saudi Arabian utility project specialist leading 25-year solar project
A consortium led by Saudi Arabia-based ACWA Power International, a developer, owner and operator of independent water and power projects, has signed a US$1bn contract to provide Morocco with electricity from the country’s first solar-thermal power plant, newswire Bloomberg has reported.
Under the agreement, the North African nation’s government will buy power for 25 years from a 160mw plant being developed by ACWA alongside Spain-based Aries Ingenieria & Sistemas SA and TSK Electricidad SA.
ACWA picked Acciona SA and Sener Grupo de Ingenieria SA to design and build the plant in September. The facility will use mirrors that concentrate sunlight in order to generate steam and power turbines.
When completed, the plant will capture about 470,000 tonnes a year of carbon dioxide emission.
ACWA Power is incorporated in Saudi Arabia with a paid up capital base in Excess of US$ 1 Billion and holds equity ownership in a portfolio of contracted assets comprising 12,000 MW of power generation plants and 2.3 million m3/day of desalinated water production plants, all representing an investment value of over US$ 15.2 Billion employing more than 2,300 people.
The company has worked on numerous utility mega projects including the Rabigh IWSPP, Shuaibah IWPP, Shuaibah Expansion IWP, Marafiq Jubail IWPP, Shuqaiq IWPP and Rabigh IPP, all in the Kingdom of Saudi Arabia.
In 2008, ACWA Power has also developed the world’s first two sea going barge mounted, self-contained desalination plants. In addition, ACWA Power was successful acquired controlling stakes in Barka 1 IWPP in the sultanate of Oman and CEGCO in Jordan during 2010 and 2011 respectively. In September 2011, ACWA Power signed the Power Purchase Agreement for the 3927 MW Qurayyah IPP; the largest CCGT IPP in the world.