The Saudi company ACWA Power is planning to increase its assets and to nearly triple power production within the next 7 years, its Deputy Chairman said on Wednesday.
Raad Al-Saadi told CNBC Arabia TV in Dubai that the company manages nearly $80 million of assets in Saudi Arabia and other countries.
“We have managed to slash energy consumption in water desalination by nearly 80 percent......we also aim to increase our assets and triple production within the next 7 years,” Saadi said.
Saadi disclosed that ACWA Power has won contracts for project feasibility studies in Indonesia and Thailand and intends to announce new projects shortly.
He noted that a water desalination project in Dubai for which ACWA Power is bidding is one of the world’s largest reverse osmosis water projects and the first project of this size to rely 100 percent on clean energy at the lowest costs.
In September, ACWA Power was chosen as the “Preferred Bidder” for Al-Hasyan Phase 1 project, which involves the construction of a 180 million gallon per day desalination facility using sea water reverse osmosis technology powered by solar energy.
(Writing by Nadim Kawach; Editing by Anoop Menon)
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