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 30-year contract aims to establish the Hamriyah desalination plant with a production capacity of approximately 410,000 cubic meters of desalinated water per day, ACWA Power said in a Tadawul filing.

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.