Acwa Power

100 MW Redstone Concentrated Solar Power with 12 Hours Daily Thermal Energy Storage Closes Financing

ACWA Power has led South Africa’s largest renewable energy project Redstone CSP to financial close The ZAR 11.6 billion Redstone concentrated solar power plant will power 200,000 households upon completion Redstone CSP Closes Financing May 2021 – ACWA Power Commercial operation scheduled to start in Q4 2023 ACWA Power, a [...]

Saudi Arabia shines a light on future of concentrated solar power

A Saudi developer’s plan to harness the sun 24/7 is sparking a renewable energy revolution in the region. ACWA Power is the main developer on the Mohammed bin Rashid Al-Maktoum Solar Park. Saudi Arabia is embracing a new, more efficient way to harness solar power for electricity, inspired by [...]

DEWA announces winning tender for world’s largest solar project

The Dubai Electricity and Water Authority (DEWA) has announced the winning tender for the fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park, the largest single-site concentrated solar power project in the world. DEWA awarded the tender to a consortium of Saudi Arabia’s ACWA Power and China’s Shanghai [...]

ACWA Power achieves first refinancing transaction in South Africa renewables sector

The ACWA Power Solafrica Bokpoort Concentrated Solar Power (CSP) plant, one of the major drivers of renewable energy in South Africa, has achieved another significant first, having announced the largest infrastructure refinancing initiative to be implemented in the country. Project financiers, led by Investec Bank, have concluded the first refinancing [...]

Desert Heat Will Help Keep Lights On in Dubai After Sundown

One of the world’s biggest solar parks in Dubai has hired Azelio AB to turn desert heat into electricity after sundown. Azelio’s technology is being used on Phase 4, a project jointly owned by Dubai Electricity & Water Authority, Saudi Arabia’s Acwa Power and Chinese state-owned Silk Road Fund. The [...]

ACWA Power expected to play an integral role in the development of PIF’s renewable energy program

The Public Investment Fund (“PIF”) today announced that it has increased its ownership stake in ACWA Power from 33.36% to 50%. The investment comes as part of PIF’s strategy to support the development of the renewable energy sector within Saudi Arabia and enable the growth of national champions to become regional [...]

ACWA Power’s Bokpoort Concentrated Solar Power plant breaks African record

ACWA Power, a leading developer, investor and operator of power generation and desalinated water plants worldwide, announced Wednesday that its South African Bokpoort CSP plant has become the first renewable facility in the continent to complete a full week of continuous round the clock operation. Bokpoort CSP set the [...]

ACWA Power to highlight its role as a global accelerator of energy transformation at the virtual WETEX 2020

ACWA Power, a leading developer, investor and operator of power generation and desalinated water plants worldwide, will showcase its portfolio of leading renewable energy and water desalination projects at the at 22nd Water, Energy, Technology and Environment exhibition (WETEX) as a Titanium Sponsor. Unlike any of its former editions, WETEX [...]

Shanghai Electric Wins Contract for Fifth Phase of Dubai Solar Park

ACWA Power of Saudi Arabia has appointed Shanghai Electric Group as the engineering, construction and procurement (EPC) contractor to deliver the fifth phase project of the Mohammed Bin Rashid Al Maktoum Solar Park in Dubai with capacity of 900 MW. The Solar Park project is the largest single-site solar power [...]

Bokpoort Concentrated Solar Power project achieves 21.7 GWh production record in winter

The South African-based Bokpoort Concentrated Solar Power project, now in its fifth year of production, celebrated yet another huge production record. The 50MW Concentrated Solar Thermal Power (CSP) Parabolic Trough Power Plant with 9.3-hour storage set a new winter production record in August 2020. Bokpoort CSP CEO, Christo Spammer, shared [...]

ACWA Power participates in leading Concentrated Solar Power industry event

Headquartered in Saudi Arabia, ACWA Power is a developer, investor and operator of a portfolio of power generation and desalinated water production plants with a presence in 11 countries in the Middle East and North Africa, Southern Africa and South-East Asia regions. In recent years, ACWA Power has actively been [...]

ACWA Power closes financing of 900 MW fifth phase of solar power project in Dubai

ACWA Power has announced financial close for the 900 MW fifth phase of the giant Mohammed bin Rashid Al Maktoum Solar Park in Dubai, and revealed the bevy of international lenders that will be behind the $564 million facility. ACWA on Thursday announced Abu Dhabi Islamic Bank would be [...]

Shanghai Electric Wins Contract for Fifth Phase of Dubai Solar Park

ACWA Power of Saudi Arabia has appointed Shanghai Electric Group as the engineering, construction and procurement (EPC) contractor to deliver the fifth phase project of the Mohammed Bin Rashid Al Maktoum Solar Park in Dubai with capacity of 900 MW. The Solar Park project is the largest single-site solar power [...]