ACWA Power signs SAR 2.56B water purchase agreement with SEWA

Logo of ACWA Power Co. 

ACWA Power Co. signed a water purchase agreement with Sharjah Electricity, Water and Gas Authority (SEWA) to establish the Hamriyah desalination plant with a production capacity of approximately 410,000 cubic meters of desalinated water per day at a value of SAR 2.56 billion ($0.68 billion).

The project, which will be established under a 30-year contract, is located in Al Hamriyah in Sharjah, UAE, the utility said in a Tadawul filing. ACWA Power will develop, design, finance, engineer, manage procurement, build, launch, complete, test, own, operate, maintain, and secure a water desalination plant.

The project is located in Al Hamriyah in Sharjah, UAE. ACWA Power will develop, design, finance, engineer, manage procurement, build, launch, complete, test, own, operate, maintain, and secure a water desalination plant.

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ACWA Power expected the financial impact of operating the entire station to appear by Q2 2028, noting that there were no related parties in the agreement.

ACWA Power owns 45% of Hamriyah Developer Holding.