ACWA Power Signs $4.1 Billion Energy Conversion and Water Purchase Agreement for Az-Zour North IWPP in Kuwait
ACWA Power has signed a $4.1 billion Energy Conversion and Water Purchase Agreement for the Az-Zour North IWPP in Kuwait, which includes a 2,700 MW Combined Cycle Gas Turbine plant and a desalination facility producing 545.5 thousand m³/day. The project will be executed on a Build, Operate and Transfer basis over 25 years, with ACWA Power holding a 24% stake in the Gulf Alliance for Power and Water consortium. The agreement was made with the Ministry of Electricity and Water and Renewable Energy.
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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.
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