Saudi Acwa enters into $478m agreement with UAE authority DEWA

ACWA POWER
2082 0.76% 158.20 1.20 DEWA
DEWA -1.45% 2.71 -0.04

Riyadh — Mubasher: Acwa Power Company has signed a water purchase agreement with the Dubai Electricity and Water Authority (DEWA) for the Hassyan Sea Water Reverse Osmosis (SWRO) project, according to a bourse filing.

The contract is valued at approximately $478 million, which is equivalent to SAR 1.79 billion.

The agreement covers the development, financing, construction, and operation of the independent water project that is located in Dubai.

The facility is designed with a daily production capacity of 272,000 cubic meters of desalinated water.

Under the terms of the agreement, Acwa will hold a 40% equity stake in the project.

The contract was awarded and signed on 28 October 2026, while the contractual arrangement is set for a duration of 30 years.

Acwa expects the financial impact of the project to begin appearing in the company's financial statements starting in 2030, following the successful completion of the plant.

The Saudi listed firm further confirmed there are no related parties involved in the transaction.

Source: Mubasher Source: {{details.article.source}}