KSA power company appoints managing director
Thamer AlSharhan joins ACWA Power leadership team.
ACWA Power has announced the strengthening of its senior leadership team with the newly created position of managing director, reporting to the Board of Directors.
Thamer Al Sharhan has served as President & CEO of Marafiq, the company that delivers utility services at the two giant industrial cities of Jubail and Yanbu, since September 2006. He will bring his experience to the leadership team at ACWA Power as the company continues to expand its operations in the Kingdom of Saudi Arabia and beyond.
Thamer’s 30 years’ experience in the industrial and utility sectors was gained at SABIC and its affiliates, Saudi Petrochemical Company (SADAF), SABIC Terminal Services Co. (SabTank), Arabian Petrochemical Company ( Petrokemya). Thamer will contribute to ACWA Power by consolidating its position as a market leader in its chosen sector in the countries it has elected to operate.
Mohammad Abunayyan, Chairman of ACWA Power stated “ACWA Power is proud to have attracted such a distinguished executive as Thamer whose well proven capability and professionalism and unwavering commitment to excellence will significantly increase the bench strength of the leadership team at ACWA Power."
ACWA Power is a developer, investor, co-owner and operator of power generation and desalinated water production plants of contracted capacity of 14,800 MW of electricity and 2.37 million m3/day of desalinated water with an investment value in excess of USD 19 billion and providing employment to more than 2,300 people.
The company, incorporated in the Kingdom of Saudi Arabia, with a paid-up of US $1.4 Billion is owned by eight Saudi private Conglomerates and by Sanabil, the investment arm of PIF, the sovereign wealth find of Saudi Arabia and by the Public Pensions Agency. ACWA Power’s core business is the delivery of electricity and desalinated water by operating assets in which the company has a meaningful level of investment to exercise operational control.
The current portfolio of assets and investments delivers 12% of power and 45% of desalinated water in Saudi Arabia; 60% of power in Jordan; 12% of power and 12% of desalinated water in Oman and 60MWp using photovoltaic technology in Bulgaria.
An additional 4,000 MW of power generation capacity is under construction in Saudi Arabia, a 50 MW Concentrated Solar Power (CSP) plant at Bokpoort in South Africa, a 160 MW CSP plant at Ouarzazate in Morocco and a 45,000 m³/day water desalination project in Oman and an 850 MW gas fired plant at an advanced stage of development in Turkey.