Riyadh – Mubasher: ACWA Power Company inked a public-private partnership agreement with the government of Azerbaijan, represented by Azerbaijan State Water Resources Agency (ADSEA), at a value of $400 million (SAR 1.50 billion).
The deal covers the design, construction, financing, ownership, operation, and maintenance of Azerbaijan’s first large-scale Caspian Sea Water Reverse Osmosis (SWRO) desalination plant.
The agreement, signed on 26 December, holds a tenor of 27 and a half years, including the construction period.
Meanwhile, the financial impact of the contracted revenues is expected to be reflected after the Early Commercial Operation Date (ECOD), which will be announced at the time of financial close.
Earlier in December, ACWA Power teamed up with the African Development Bank (AfDB) to expand investment and financing of power generation and water desalination projects across the African continent.
