Riyadh – Mubasher: ACWA Power Company has signed a SAR 3 billion water purchase agreement with the Ministry of Water and Sanitation of Senegal and the Senegalese Company of Water (Sones) for the construction of a desalination plant in Dakar.

The plant is set to be built in two phases with a total capacity of 400,000 cubic meters per day, according to a bourse filing.

With a duration of 32 years, the agreement includes the design and construction of infrastructure associated with the plant.

The agreement has and is expected to start its financial impact on ACWA Power after the commercial operation date of the first phase by the first quarter (Q1) of 2028.

Earlier in March, ACWA Power obtained a commercial operation certificate from the Emirates Water and Electricity Company (EWEC) for the remaining 75,920 cubic meters (m3)/day of the Group 1 project.

ACWA Power recorded 7.90% higher net profits to SAR 1.66 billion in 2023 from SAR 1.54 billion a year earlier.