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Company type | Private company |
---|---|
Industry | Electricity |
Founded | 2004 |
Headquarters | , Saudi Arabia |
Key people |
|
Products | Electric power water |
Number of employees | 4,000 |
Website | acwapower |
ACWA Power is a developer, investor, co-owner and operator of a portfolio of power generation and desalinated water production plants with a presence in 13 countries across the Middle East, Africa, and central and southeast Asia. ACWA Power's portfolio of projects in operation and development has an investment value of USD 85.7 billion, and a capacity of 55.1 GW of power and 8 million m3/day of desalinated water. [1]
Its energy portfolio includes thermal power plants, [2] solar power plants (photovoltaic (PV) and concentrated solar power (CSP)), [3] wind, [4] water desalination plants, [5] and green hydrogen projects. [6] [7]
Headquartered in Saudi Arabia, ACWA Power maintains regional offices in Riyadh, Jeddah, Dubai, Baku, Beijing, Cairo, Addis Abbaba, Jakarta, Amman, Rabat, Muscat, Johannesburg, Istanbul, Tashkent, and Hanoi. [8] It invests in, develops, co-owns and operates a portfolio of 82 projects with the capacity to generate 55.1 GW of power and produce 8 million m3/day of desalinated water. [1] ACWA Power and its subsidiary operating companies employ around 4,000 people in projects in 13 different countries. [9]
ACWA Power's board of directors is chaired by Mohammad Abdullah Abunayyan, [10] with Raad Al Saady as its Vice Chairman and Managing Director, [11] and Marco Arcelli as its CEO. [12]
In 2002, the Government of Saudi Arabia changed the regulations so that the private sector was permitted to own and operate utilities such as water and power plants. The company was originally founded in 2004 as ACWA Power Projects, a joint venture between ACWA Holding (representing the Abunayyan Holding Company and Al-Muhaidib, today known as Vision International Investment Company) and the MADA Group for Industrial and Commercial Development (today known as Al Rajhi Group Holding) to take advantage of these new private sector investment and operation opportunities in the Saudi Arabian market. The company was reorganised in 2006 in its current legal form as ACWA Power Company. [13] From 2004 to 2011, ACWA Power focused primarily on Saudi Arabia, and was awarded contracts for several thermal power projects – including the Shuaibah IWPP, Shuqaiq 2 IWPP, Rabigh IPP and Marafiq IPP. [14] [15] [16] [17] The company began international expansion in 2011 with the acquisition of Central Electricity Generating Company (CEGCO) in Jordan, and the signature of a joint development agreement for the Kirikkale Combined Cycle Gas Turbine project in Turkey, which subsequently won backing from the European Bank for Reconstruction and Development (EBRD). [18] [19] [20] [21] The company has since expanded to presently 13 countries covering the Middle East, Africa, Central Asia and Asia. [22]
The Public Investment Fund, the sovereign wealth fund of Saudi Arabia, acquired a 15% stake in ACWA Power in 2018, and has since increased that to the current 44% shareholder. [23]
The Noor solar complex with 510 MW solar CSP and 135 MW solar PV capacity near Ouarzazate, Morocco, was the largest CSP complex in the world in 2019. [35]
Water supply and sanitation in Saudi Arabia is characterized by challenges and achievements. One of the main challenges is water scarcity. In order to overcome water scarcity, substantial investments have been undertaken in seawater desalination, water distribution, sewerage and wastewater treatment. Today about 50% of drinking water comes from desalination, 40% from the mining of non-renewable groundwater and only 10% from surface water in the mountainous southwest of the country. The capital Riyadh, located in the heart of the country, is supplied with desalinated water pumped from the Persian Gulf over a distance of 467 km. Water is provided almost for free to residential users. Despite improvements, service quality remains poor, for example in terms of continuity of supply. Another challenge is weak institutional capacity and governance, reflecting general characteristics of the public sector in Saudi Arabia. Among the achievements is a significant increases in desalination, and in access to water, the expansion of wastewater treatment, as well as the use of treated effluent for the irrigation of urban green spaces, and for agriculture.
DESERTEC is a non-profit foundation that focuses on the production of renewable energy in desert regions. The project aims to create a global renewable energy plan based on the concept of harnessing sustainable powers, from sites where renewable sources of energy are more abundant, and transferring it through high-voltage direct current transmission to consumption centers. The foundation also works on concepts involving green hydrogen. Multiple types of renewable energy sources are envisioned, but their plan is centered around the natural climate of the deserts.
Concentrated solar power systems generate solar power by using mirrors or lenses to concentrate a large area of sunlight into a receiver. Electricity is generated when the concentrated light is converted to heat, which drives a heat engine connected to an electrical power generator or powers a thermochemical reaction.
Morocco's energy policy is set independently by two agencies of the government: the Office of Hydrocarbons and Mining (ONHYM) which sets domestic oil policy, and the Office National de l'Electricité (ONE), which sets policy with regard to electricity. The two major weaknesses of the energy policy of Morocco are the lack of coordination between these two agencies and the lack of development of domestic energy sources.
Solar power in South Africa includes photovoltaics (PV) as well as concentrated solar power (CSP). As of July 2024, South Africa had 2,287 MW of installed utility-scale PV solar power capacity in its grid, in addition to 5,791 MW of rooftop solar and 500 MW of CSP. Installed capacity is expected to reach 8,400 MW by 2030.
Solar power in Morocco is enabled by the country having one of the highest rates of solar insolation among other countries— about 3,000 hours per year of sunshine but up to 3,600 hours in the desert. Morocco has launched one of the world’s largest solar energy projects costing an estimated $9 billion. The aim of the project was to create 2,000 megawatts of solar generation capacity by 2020. The Moroccan Agency for Solar Energy (MASEN), a public-private venture, was established to lead the project. The first plant, Ouarzazate Solar Power Station, was commissioned in 2016.
Solar power in Saudi Arabia has become more important to the country as oil prices have risen. In 2021, 60.89% of energy consumed was produced by burning oil. The Saudi agency in charge of developing the nations renewable energy sector, Ka-care, announced in May 2012 that the nation would install 41 gigawatts (GW) of solar capacity by 2032. It was projected to be composed of 25 GW of solar thermal, and 16 GW of photovoltaics. At the time of this announcement, Saudi Arabia had only 0.003 gigawatts of installed solar energy capacity. A total of 54 GW was expected by 2032, and 24 GW was expected in 2020, which was never reached. 1,100 megawatts (MW) of photovoltaics and 900 megawatts of concentrated solar thermal (CSP) was expected to be completed by early 2013. Also in 2013, solar power in Saudi Arabia had achieved grid parity and was able to produce electricity at costs comparable to conventional sources.
Ouarzazate Solar Power Station (OSPS), also called Noor Power Station is a solar power complex and auxiliary diesel fuel system located in the Drâa-Tafilalet region in Morocco, 10 kilometres (6.2 mi) from Ouarzazate town, in Ghessat rural council area. At 510 MW, it is the world's largest concentrated solar power (CSP) plant. With an additional 72 MW photovoltaic system the entire project was planned to produce 582 MW. The total project's estimated cost is around $9 billion.
The Dubai Electricity and Water Authority (DEWA) (هيئة كهرباء ومياه دبي) is a public service infrastructure company that was founded on 1 January 1992 by Sheikh Maktoum bin Rashid Al Maktoum.
Shuqaiq 2 IWPP (Independent Water and Power Project) is an integrated water and power plant project in Shuqaiq, Saudi Arabia. Construction of Shuqaiq 2 IWPP began in 2007 and achieved commercial operation in 2010. The project's power and desalination units are located adjacent to the existing Shuqaiq 1 power and desalination complex, 105 km south of Abha and 140 km north of Jizan, on the south-western (Red Sea) coast of Saudi Arabia.
Bokpoort CSP is a concentrated solar power (CSP) thermal energy power plant, located near Groblershoop in the Northern Cape province of South Africa. The project was procured pursuant to the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) initiated by the South African Department of Energy.
While being a major oil producing country, the United Arab Emirates (UAE) has taken steps to introduce solar power on a large scale. However, solar power still accounts for a small share of energy production in the country. The country was the 6th top carbon dioxide emitter per capita in the world in 2009, with 40.31 tonnes, but is planning to generate half of its electrical energy by 2050 from solar and nuclear sources, targeting 44% renewables, 38% gas, 12% coal, and 6% nuclear energy sources.
Mohammed bin Rashid Al Maktoum Solar Park is a solar park spread over a total area of 77 km2 (30 sq mi) in Saih Al-Dahal, about 50 km (31 mi) south of the city of Dubai in the United Arab Emirates (UAE).
Redstone Solar Thermal Power (RSTP) is a solar power tower with molten salt energy storage, located in Postmasburg, near Kimberley, in the Northern Cape Region of South Africa. Redstone will have a capacity of 100 megawatts (MW) to deliver power to 200,000 people and was awarded in bid window 3.5 of the REIPPP at a strike price of 122.3 ZAR/KWh including time of day pricing in 2015. The project was initially based on the technology of now bankrupt Solar Reserve, but was delayed for several years because the PPA was not signed by Eskom until 2018. After the project was revived the plant is now under construction and the technology will be provided by Brightsource and John Cockerill, as demonstrated in the Noor Energy 1 project in the UAE.
The desert-covered Kingdom of Saudi Arabia is the geographically largest country in the Middle East. Moreover, it accounts for 65% of the overall population of the GCC countries and 42% of its GDP. Saudi Arabia does not have a strong history in environmentalism. Thus, as the number of population increases and the industrial activity grows, environmental issues pose a real challenge to the country.
Abdul Latif Jameel is a family-owned diversified business founded in Saudi Arabia in 1945 by the late Sheikh Abdul Latif Jameel (1909–1993). Operating across seven core business sectors, Abdul Latif Jameel has a presence in over 30 countries across six continents.
Neom is an urban area being built by Saudi Arabia in Tabuk Province. Launched in 2017 by crown prince Mohammad bin Salman, the site is at the northern tip of the Red Sea, due east of Egypt across the Gulf of Aqaba and south of Jordan. The total planned area of Neom is 26,500 km2 (10,200 sq mi). Multiple regions are planned, including a floating industrial complex, global trade hub, tourist resorts and a linear city powered by renewable energy sources.