Riyadh – Mubasher: International Company for Water and Power Projects (ACWA Power) has obtained the Commercial Operation Certificate (COD) for its photovoltaic Phase 1 (PVFD1) of Noor Energy 1 project, which is located in the UAE.

The Dubai-based energy project has a 217-megawatt capacity, according to a bourse filing on Monday.

The Saudi listed ACWA Power holds ownership of 25% in Noor Energy 1.

The company noted that the financial impact of operating the project is expected to reflect on the income statements for the first quarter (Q1) of 2022.