ACWA POWER Co. (2082.B)

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News

14 November 2023 03:36 PM ACWA Power inks $3.9bn power purchase deals

Riyadh – Mubasher: ACWA Power Company signed power purchase agreements (PPAs) with the Saudi Power Procurement Company (SPPC) at an aggregated value of SAR 14.60 billion ($3.90 billion). The deals cover the operation of two large-scale Combined …

Financial Results

2 November 2023 00:37 PM ACWA Power registers over SAR 1bn profits in 9M-23

Riyadh – Mubasher: ACWA Power Company generated net profits after Zakat and tax valued at SAR 1.08 billion in the first nine months (9M) of 2023, marking an annual rise of 22.49% from SAR 883.42 million. Earnings per share (EPS) stood at SAR 1.49 …

Financial Results

29 October 2023 05:08 PM With total $746m at FII7, ACWA Power builds on EBRD-OPEC Fund agreement, joins EIC

Riyadh – Mubasher: ACWA Power Company has concluded agreements with international entities at a combined value of $746 million during the seventh Future Investment Initiative (FII7) conference which was held in the capital of Saudi Arabia on 24-26 …

Banking and Finance

25 October 2023 06:10 PM Top quotes by Saudi ministers, officials from energy giants at FII7; regional leaders give remarks

By: Ingy ElSafy Riyadh – Mubasher: Energy availability is essential for functioning economies is among the top quotes said on the first day of the seventh Future Investment Initiative (FII) conference, which is being held in the capital of Saudi …

Event

4 October 2023 01:43 PM DEWA, ACWA Power team up for world’s largest solar-powered desalination plant

Mubasher: Dubai Electricity and Water Authority (DEWA) and ACWA Power Company signed a 30-year water purchase agreement (WPA) for phase 1 of the Hassyan Sea Water Reverse Osmosis (SWRO) desalination project. The project will be carried out by …

Global Economy

31 August 2023 11:52 AM ACWA Power achieves financial close for Egypt’s Kom Ombo project

Riyadh – Mubasher: ACWA Power Company announced the financial close for the 200 megawatts (MW ) Kom Ombo project in Egypt, with an overall investment cost of $182 million. The Kom Ombo plant is expected to be commercially operational in January …

Companies Investments

10 August 2023 10:11 AM ACWA Power’s net profits up 26% in H1-23 results

Riyadh – Mubasher: ACWA Power Company registered net profits after Zakat and tax valued at SAR 684.13 million in the first half (H1) of 2023, an annual surge of 26.29% from SAR 541.72 million. During the six-month period that ended on 30 June …

Financial Results

19 July 2023 10:20 AM ACWA Power, NREA sign MoU for wind project in Egypt

Riyadh – Mubasher: ACWA Power Company has signed a memorandum of understanding (MoU) with the New and Renewable Energy Authority (NREA) to allocate land for a 10 gigawatt (GW) wind project in Egypt. The wind power plant is expected to provide the …

Companies Investments

17 July 2023 00:54 PM ACWA Power inks SAR 8.3bn financing deals for solar projects

Riyadh – Mubasher: ACWA Power Company signed financing agreements for Al Shuaibah 1 and Al Shuaibah 2 photovoltaic (PV) projects at a combined investment of SAR 8.30 billion ($2.20 billion). The solar projects are funded through a mix of long-term …

Companies Investments

6 July 2023 03:11 PM ACWA Power endorses NEOM green project with SAR 1.12bn

Riyadh – Mubasher: NEOM Green Hydrogen Company (NGHC), an affiliate of ACWA Power Company, injected SAR 1.12 billion, equivalent to $300 million, in the NEOM Green Hydrogen Project (NGHP). ACWA Power's investment will be considered as part of its …

Companies Investments

29 June 2023 04:55 PM Saudi ACWA Power unveils $100m RCF agreement from UAE-based Chinese bank

Riyadh – Mubasher: ACWA Power has recently signed a revolving credit facility (RCF) agreement with Asian state-owned China Construction Bank (DIFC Branch), which is located in Dubai, at a total value of $100 million, according to a press release. …

Banking and Finance

22 May 2023 09:53 AM ACWA Power inks SAR 12.18bn agreements

Riyadh – Mubasher: ACWA Power Company signed three power purchase agreements with Saudi Power Procurement Company at an aggregated value of SAR 12.18 billion, equivalent to $3.25 billion. The deals cover the development, financing, and operation …

Companies Investments

10 May 2023 09:38 AM ACWA Power achieves nearly SAR 270m profits in Q1-23

Riyadh – Mubasher: The net profits after Zakat and tax of ACWA Power Company jumped by 77.63% to SAR 269.73 million in the first quarter (Q1) of 2023, compared to SAR 151.85 million in Q1-22. The Saudi firm posted revenues totalling SAR 1.33 …

Financial Results

25 April 2023 06:11 PM ACWA Power unveils $123m financing for Kom Ombo project in Egypt

Riyadh – Mubasher: ACWA Power Company has signed a $123 million financing package to develop the utility-scale solar power plant Kom Ombo in Egypt, according to a press release. The financing institutions for the project include European Bank for …

Companies Investments

25 April 2023 11:58 AM ACWA Power rolls out commercial project in Abu Dhabi

Riyadh – Mubasher: ACWA Power Company has received a commercial operation certificate from Emirates Water and Electricity Company (EWEC) for Group 2 of Taweelah RO Desalination Company in Abu Dhabi. The Group 2 has a daily production capacity of …

Companies Investments

13 April 2023 02:03 PM ACWA Power inks SAR 2.54bn water purchase deal

Riyadh – Mubasher: Rawabi Water Desalination Company, partly owned by ACWA Power Company, signed a water purchase agreement worth SAR 2.54 billion with the Saudi Water Partnership Company. The two entities will join forces to develop a water …

Companies Investments

9 April 2023 01:18 PM ACWA Power unveils commercial project in Jubail

Riyadh – Mubasher: The Saudi Water Partnerships Company granted ACWA Power Company a commercial operation certificate for the Jazlah Water Desalination Company in Jubail. ACWA Power holds a 40.20% stake in Jazlah Water Desalination, according to a …

Companies Investments

2 March 2023 11:14 AM ACWA Power records higher profits at SAR 1.54bn in 2022

Riyadh – Mubasher: ACWA Power Company witnessed a 102.96% year-on-year (YoY) surge in net profit after Zakat and tax to SAR 1.54 billion in 2022, versus SAR 758.79 million. Revenues went up by 0.77% to SAR 5.27 billion as of 31 December 2022 from …

Financial Results

26 January 2023 05:29 PM ACWA Power’s board proposes nearly SAR 607m dividends for 2022

Riyadh – Mubasher: The board members of ACWA Power Company recommended, on 26 January, cash dividends’ payment worth SAR 606.81 million for 2022. The listed firm would disburse SAR 0.83 per share, which represents 8.30% of the share nominal value, …

Board of Directors

22 January 2023 01:41 PM ACWA Power unveils 2nd asset acquisition of Saudi Aramco’s IGCC

Riyadh – Mubasher: Jazan Integrated Gasification and Power Company (JIGPC) acquired the second set of the Jazan Integrated Gasification Combined Cycle (IGCC) plant’s assets, ACWA Power Company announced in a bourse filing. JIGPC is a joint venture …

Companies Investments

19 January 2023 04:27 PM ACWA Power unveils solar project Noor Energy 1 in UAE

Riyadh – Mubasher: ACWA Power Company announced that Noor Energy 1 commenced operating Phase 1 of the parabolic trough concentrated solar power (PT-CSP) at a production capacity of 200 megawatts (MW). Noor Energy 1 represents Phase 4 of the …

Companies Investments

10 January 2023 02:01 PM ACWA Power starts issuing up to SAR 1.8bn Sukuk

Riyadh – Mubasher: ACWA Power Company started issuing SAR-denominated Sukuk worth up to SAR 1.80 billion under its SAR 5 billion Sukuk issue programme. The offering will take place from 10 January to 21 February 2023, holding a tenor of seven …

Bonds

25 December 2022 04:17 PM Saudi ACWA Power seals $2.4bn power purchase deal with Uzbekistan

Riyadh – Mubasher: ACWA Power Company signed a power purchase agreement (PPA) with the National Electric Grid of Uzbekistan (NEGU) at a value of $2.40 billion on 23 December 2022. The Tadawul-listed firm purchased three wind power special purpose …

Macroeconomics

14 December 2022 01:26 PM ACWA Power’s unit buys ACWA39 bonds for over $400m

Riyadh – Mubasher: ACWA Power Management and Investments One Limited (APMIOne), a wholly-owned subsidiary of ACWA Power Company, purchased $400.72 million worth of ACWA39 bonds out of the $814 million principal value. The pre-amortisation value of …

Companies Investments

30 November 2022 07:53 PM ACWA Power collaborates with Badeel for mega solar project in MENA

Riyadh – Mubasher: ACWA Power Company has teamed up with the Water and Electricity Holding Company (Badeel), a wholly-owned entity by the Public Investment Fund (PIF), for Al Shuaibah photovoltaic (PV) solar energy plant in Makkah. Al Shuaibah 2 …

Companies Investments