Acwa Power

China’s Silk Road Fund acquires 49% of ACWA Power Renewable Energy

China's Silk Road Fund has purchased a 49% stake in ACWA Power Renewable Energy (ACWA Power RenewCo), the Saudi Arabian group announced June 23. ACWA Power is a leading solar and wind developer in the Middle East and North Africa (MENA) and the dominant developer of CSP plants in [...]

China To Dominate Concentrated Solar Power Revival in Long Term

Concentrated Solar Power is the technology which uses mirrors to concentrate the sun’s energy to drive traditional steam turbines or engines that create electricity. The thermal energy concentrated in a CSP plant can be stored and used to produce electricity when it is needed, day or night. Concentrated solar [...]

Belt and Road Initiative (BRI) fund acquires 49% of ACWA Power-promted, ACWA Power RenewCo

Beijing-headquartered Silk Road Fund, a state-owned investment and development fund established under the framework of Belt and Road Initiative (BRI), has acquired a 49 percent stake in a renewable energy holding company promoted by ACWA Power, the Saudi Arabia-based developer, owner, and operator of water and power plants, it [...]

Morocco’s Ourazazate Noor III Concentrated Solar Power Tower Exceeds Performance Targets

The 150 MW Noor III Concentrated Solar Power tower in Morocco has exceeded performance targets on output and storage integration in the first few months of operation and financing costs for tower storage projects should fall in line with parabolic trough rates going forward, Xavier Lara, Senior Consultant at CSP [...]

ACWA Power signed strategic agreements with three Chinese entities

ACWA Power, a leading developer, owner, and operator of power generation and water desalination plants has signed strategic agreements with three renowned Chinese entities on the sidelines of the second Belt and Road Forum for International Cooperation (BRF). The agreements with PowerChina, China Gezhouba Group Company (CGGC) and Bank of [...]

A $13.6bn record concentrated solar power park rises from Dubai desert

Under the Arabian sun, a monumental construction effort is making headway. Located deep within Dubai’s desert interior, the Mohammed Bin Rashid Al Maktoum Solar Park – named after the emirate’s ruler and the UAE’s vice president and prime minister – continues to grow and has just passed another milestone. In [...]

ACWA, Shanghai Electric lead Dubai 950 MW Concentrated Solar Power -PV NOOR Energy 1 Project

Dubai 950MW Concentrated Solar Power -PV project NOOR Energy 1, the super solar power complex is the 4th phase of Dubai Mohammed bin Rashid Al Maktoum Solar Park. September 2017 witnessed the winning of consortium of ACWA Power and Shang Electric to execute the project. Up to date, the project [...]

Dubai Concentrated Solar Power technology inventions accelerate industry cost reductions

Supplier innovations at the 950 MW Noor Energy 1 Concentrated Solar Power project will increase construction and operations efficiency and propel the CSP industry closer to $50/MWh, industry experts told the Mena New Energy 2019 conference. Last month, the Dubai Electricity Water Authority (DEWA), Saudi Arabia's ACWA Power and China's [...]

Saudi Arabia shines a light on future of concentrated solar power

Saudi Arabia is embracing a new, more efficient way to harness solar power for electricity, inspired by its role as the main developer in one of the world’s largest renewable energy projects, the Mohammed bin Rashid Al-Maktoum Solar Park in Dubai. Concentrated solar power (CSP), which makes up a [...]

Dow wins contract for 950 MW Phase 4 of Dubai’s MBR Concentrated Solar Power Park

American firm to work with China's Shanghai Electric on hybrid Concentrated Solar Power and solar PV project that will power 270,000 Dubai homes. The subcontracting has been awarded for 700MW concentrated solar power and a 250MW photovoltaic hybrid project. Dow, along with Chinese power generation and electrical equipment manufacturing company [...]

MBR Concentrated Solar Power Park reaches news infrastructure completion phase

The concrete base of the tower that is part of the Mohammed bin Rashid Al Maktoum, MBR, Solar Park, the largest single-site concentrated solar power, CSP, project in the world, has been completed. Saeed Mohammed Al Tayer, Managing Director and CEO of Dubai Electricity and Water Authority, DEWA, inspected the [...]

DEWA complete financing for Dubai concentrated solar power park

ACWA Power and Dubai Electricity and Water Authority (DEWA) said on Sunday they had completed the financing of a 950 megawatt concentrated solar power project in Dubai. The companies did not disclose the size of the deal in Sunday’s statement but sources told Reuters in January the financing would [...]

Rioglass Solar Signs Contracts for World’s Largest Concentrated Solar Power Plant

Rioglass Solar Signs Dubai 600 MWe CSP Project Order for Both Parabolic Trough Receiver Tubes and Mirrors with Abengoa Energía and Shanghai Electric. The record-breaking Dubai 700 MW CSP + 250 MW PV Hybrid Project Noor Energy 1, developed by Acwa Power in close cooperation with DEWA, Shanghai Electric [...]