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ACWA Power Co. Announces the Award of Power and Water Purchase Agreement (PWPA) extension to its subsidiary Barka Water and Power Company SAOG (BWPC), Oman.
| Element List | Explanation |
|---|---|
| Introduction | ACWA Power is pleased to announce that its subsidiary, Barka Water and Power Company SAOG (BWPC) has received a letter of award from Nama Power and Water Procurement Company, Oman (PWP) for extending the Power and Water Purchase Agreement (PWPA). BWPC is a subsidiary of ACWA POWER Co., registered in Sultanate of Oman and listed in the Muscat Stock Exchange. |
| Date of Award | 2024-04-24 Corresponding to 1445-10-15 |
| Counterparty | Nama Power and Water Procurement Company (PWP), Oman. |
| Project Value | USD 356 million (SAR 1,335 million). |
| Expected Date for Signing the Contract | 2024-05-27 Corresponding to 1445-11-19 |
| Project Details | The award includes extending the operation of the Power plant for 8 years and 9 months term with operations starting from 1 June 2024 and the water plant for 3 years term starting from 1 September 2024 with extension option at PWP’s discretion for a further term of 3 years and another term of 2 years & 9 months (total 8 years and 9 months term). BWPC has accepted the award on 24 April 2024 and is currently working with PWP on the finalization and approval of the PWPA and other project agreements. |
| Related Parties | NA |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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