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ACWA Power secures $240 million IFC loan for Uzbekistan’s RE projects

Global, News

ACWA Power has obtained a $240 million Islamic Equity Bridge Loan (EBL) from the International Finance Corporation (IFC) to support renewable energy initiatives in Uzbekistan.  The financing will facilitate the construction and operation of two projects: a 1 GW solar photovoltaic plant and a 668 MW battery energy storage system (BESS), along with approximately 500 km of high-voltage transmission lines.  These projects aim to reduce Uzbekistan’s greenhouse gas emissions by an estimated 1.3 million tonnes…

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ACWA Power grows renewable portfolio in Africa

Global, News

ACWA Power’s Redstone Concentrating Solar Power (CSP) plant in South Africa has synchronized 50 MW to the national grid, with full capacity expected to reach 100 MW shortly.  Developed in collaboration with Herlogas and SEPCOIII, the Redstone CSP is set to deliver clean energy to approximately 200,000 households, significantly curbing carbon emissions. Meanwhile, the Kom Ombo Photovoltaic (PV) plant in Egypt has achieved its full production capacity of 200 MW, supplying clean energy to over…

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Pupuk Indonesia to procure green hydrogen from PLN and ACWA

Global, News

PT Pupuk Indonesia (Persero) has signed a Head of Key Terms (HoT) agreement with ACWA Power, PLN Energi Primer Indonesia, and PLN Indonesia Power to secure green hydrogen for scaling up its green ammonia production. This collaboration, which began last year, aims to ensure a steady supply of green hydrogen, the key raw material for producing green ammonia, which Pupuk Indonesia will use to manufacture urea and NPK fertilizers. A joint venture between ACWA Power…

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ACWA Power starts construction on 200 MW wind and 100 MW battery storage project in Uzbekistan

Global, News

ACWA Power has commenced construction on a 200 MW wind power plant and a 100 MW battery energy storage system (BESS) in the Republic of Karakalpakstan, Uzbekistan. The project, valued at $260 million, is a partnership with JSC National Electric Grid of Uzbekistan (NEGU). The Beruniy Wind Power Plant is expected to generate 800 million kWh of clean energy annually, enough to power 292,000 households. The initiative will save 212 million cubic meters of natural…

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ACWA signs PPA for 60 MW Saguling floating solar project in Indonesia

Global, News

ACWA Power has signed a power purchase agreement (PPA) with PT Perusahaan Listrik Negara (PLN) for the 60 MW Saguling floating solar photovoltaic (PV) project in Indonesia. This project is part of PLN’s strategy to increase the share of renewables to 23% by 2025. The Saguling project, along with the Singkarak floating solar PV project, represents a combined investment of USD 105 million.

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Acwa commissions 700 MW AlRass1 solar PV project in Saudi Arabia

Global, News

Acwa Power has commissioned the 700MW AlRass1 solar photovoltaic (PV) project in Saudi Arabia. The project, located in Al Qassim province, has commenced power generation after receiving a commercial operation certificate. Acwa Power holds a 40.1% stake in the AlRass Renewable Energy Company, with Badeel, a subsidiary of the Public Investment Fund, and China’s State Power Investment holding 20% and 39.9% stakes, respectively. The financial impact of the AlRass1 project is expected to be reflected…

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Saudi Arabia signs $9.3bn PPAs for 9.2GW power projects

Global, News

The Saudi Power Procurement Company (SPPC) has signed power purchase agreements (PPAs) for five independent power producer (IPP) projects, totalling 9.2GW in capacity, as reported by Zawya. The projects include thermal and solar photovoltaic (PV) power initiatives, with a combined investment of 35 billion Saudi riyals ($9.3 billion), supporting Saudi Vision 2030 goals for a balanced energy mix. The thermal projects, Rumah 1 and 2 and Nairyah 1 and 2, will utilize combined cycle gas…

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SPPC awards 7.2GW power project contracts under Saudi Vision 2030

Global, News

The Saudi Power Procurement Company (SPPC) has awarded contracts for the development of 7.2GW of power projects to consortiums led by Saudi Electricity Company and Abu Dhabi National Energy Company (Taqa).  The projects, essential to Saudi Arabia’s strategic energy mix plan, align with Vision 2030 and the Saudi Green Initiative, which targets a 50% contribution each from renewable energy and gas in domestic electricity production. Contracts were awarded for the Rumah I and II and…

Power Sector News Roundup for November 5, 2024

Power Bytes

Global: ACWA Power secures $240 million IFC loan for Uzbekistan’s RE projects HydroWing and PLN to develop Indonesia’s first tidal energy plant Huasun Energy to supply 1 GW of HJT solar modules for Power China’s offshore PV project Avantus sells Catclaw Solar and Energy Storage Project to DESRI India: Premier Energies’ subsidiaries receive orders worth Rs 5.6 billion Gensol Engineering secures Rs 7.8 billion solar EPC order in Maharashtra NTPC and ONGC partner to drive…

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Arctech secures 2.3 GW solar trackers in Saudi Arabia

Global, News

Arctech has signed a major supply agreement with China Energy Engineering Group Co., Ltd. to provide 2.3 GW of its 1P single-axis solar tracker system, SkyLine II, for the PIF4-Haden project owned by ACWA Power. This project, supporting Saudi Vision 2030, is expected to reach commercial operations by early 2027. SkyLine II’s innovative synchronous multi-point drive mechanism enables it to operate effectively in the strong winds typical of the desert site. Its modular design allows…