Article

ACWA Power has signed an Energy Conversion and Water Purchase Agreement (ECWPA) for the Az-Zour North Phase 2 & 3 Independent Water and Power Project (IWPP) in Kuwait. The project includes a Combined Cycle Gas Turbine (CCGT) plant with a capacity of 2,700 Megawatts (MW) and a desalination component using Seawater Reverse Osmosis (SWRO) technology to produce approximately 545.5 thousand m3/day.

The contract, valued at around USD 4.1 billion, will be implemented on a Build, Operate and Transfer (BOT) basis for 25 years. The agreement was signed with the Ministry of Electricity and Water and Renewable Energy (MEWRE), with ACWA Power holding a 24% share through the Gulf Alliance for Power and Water consortium, which also includes Gulf Investment Corporation and is backed by the Kuwait Authority for Partnership Projects.