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Saudi ACWA Power signs $800mln water purchase contract | |
| Staff Writer |
A special-purpose entity owned by Saudi utility developer ACWA Power has signed a $800 million water purchase agreement (WPA) with Saudi Water Partnership Co.
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The current project is part of the conversion of the existing Shuaibah 3 IWPP plant into a seawater reverse osmosis plant (SWRO), ACWA Power said in a Saudi Tadawul bourse filing.
The SPV - Shuaibah Three Water Desalination Co. - was instituted by ACWA Power and Badeel Co. for the Shuaibah 3 IWP Project plant located in Macca.
The contract covers the development, construction, and operation of 600,000 m3/day and is for a 25-year period.
Saudi Water Partnership Company functions as the principal off-taker for water and wastewater projects in the kingdom.