ACWA Power scoops international energy awards

ACWA Power scoops international energy awards

Saudi Arabian renewable energy firm ACWA Power has been awarded six international awards in recognition of its successful renewable energy projects in 2015.

It scooped the ‘best solar deal’ award for its Shuaa Energy I plant in Dubai, the ‘best wind deal’ for its Khalladi Wind plant in Morocco, the ‘best power deal’ for its Salalah 2 plant in Oman, as well as the ‘regional sponsor’ award for the MENA region in 2015, at the IJGlobal Awards.

The company also won the ‘developer of the year’ award from EMEA Project Finance Magazine and ‘global sponsor of the year’ award by Project Finance Magazine last month.

ACWA Power has operations in 12 countries and 2015 saw the company achieve financial close on 11 projects totalling a capacity of 4,869 megawatts at a project cost of US$7 billion.

“2015 has been a remarkable year in the evolution of ACWA Power,” said Rajit Nanda, ACWA chief investment officer. “During the year we set global benchmarks for the safe, efficient and reliable delivery of power and water at the lowest possible cost.”

ACWA has a portfolio of plants capable of producing 22.8 gigawatts of power and 2.5 million cubic metres per day of desalinated water – plus an investment value in excess of $32 billion.