A consortium consisting of ACWA Power, Gulf Investment Corporation (GIC) and Alternative Energy Projects Co. (AEPC) has achieved the financial closure for the 500 MW solar photovoltaic independent power project (IPP) at Ibri in the Sultanate of Oman, which is also the largest utility scale solar plant in the country as of date.
ACWA Power, a leading international developer and operator of power generation and water desalination facilities from Saudi Arabia, announced it has signed a Power Purchase Agreement (PPA) with the Government of Egypt to develop, finance, construct and operate the Kom Ombo photovoltaic plant, which will yield a capacity of 200 MW.
As part of the South African Department of Energy’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), a consortium led by SolarReserve and International Company for Power and Water (ACWA Power) have signed a 20-year power purchase agreement with Eskom, South Africa’s public electric utility company, for the Redstone Solar Thermal Power Project.
Saudi energy company ACWA Power announced that the 61.3 MWp Risha PV IPP project achieved financial close on 20th December 2017.The financing comprises senior loans of US$ 22 million from the European Bank for Reconstruction and Development (EBRD) and US$ 16 million each from Deutsche Investitions- Und Entwicklungsgesellschaft Mbh (DEG) and Arab Bank to Risha for Solar Power Projects PSC.
A 50 MW concentrated solar power plant, built by Saudi Arabia’s ACWA Power-led consortium, was officially inaugurated on Monday in Bokpoort near Upington, the Northern Cape region of South Africa.
Saudi Arabia’s ACWA Power is obtaining a loan of about $344 million from three banks to finance a solar energy project in Dubai, chief executive Paddy Padmanathan said on Sunday.
