ACWA Power Company has announced that it received a notice on 21st March 2024 of a leak in the hot molten salt tank related to the Noor 3 CSP IPP solar power project.

The preliminary analysis of the situation showed a forced outage that will continue until November 2024, according to a bourse filing.

The outage has an impact on the Noor 3 CSP IPP project implemented which is 75%-owned by ACWA Power.

The initial estimation of the revenue loss for the project company due to the outage amounts to around $47 million.

In 2023, ACWA Power recorded 7.90% higher net profits at SAR 1.66 billion, versus SAR 1.54 billion a year earlier.

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