Saudi private energy developer Acwa Power is overseeing power generation projects with a combined 15.5GW of capacity and a total funding requirement of $27bn. Whilst 74% of the firm’s current 16.4GW of power capacity is in Saudi Arabia, Acwa has ongoing projects as far afield as Morocco, South Africa and Vietnam (see table).
Acwa has won projects by offering to supply power at some of the most competitive electricity prices on record. It remains to be seen whether all of these projects will turn out to be profitable. MEES understands that some of the initially-announced record low prices have subsequently (and quietly) been renegotiated upwards. (CONTINUED - 889 WORDS)
