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Baghdad, Iraq: ACWA Power, a leading developer, owner, and operator of power generation and water desalination plants signed a Memorandum of Understanding (MoU) with Iraq Energy Institute (IEI) - an independent non-profit policy institute - to collaborate on research development projects and enhance capacity building programs that will contribute to the optimum development of Iraq’s energy sector.
Mohammad Abunayyan, Chairman of ACWA Power commented on the occasion saying: “We are pleased to commence collaboration with Iraq Energy Institute and bring our expertise to the Iraqi market. The signing of the MoU will certainly bridge to further alliances between ACWA Power and Iraqi energy players and is a robust start of a mutually beneficial relationship built on knowledge and exchange of energy proficiency between the Kingdom of Saudi Arabia and Iraq – which we are proud to lead and are keen to further progress.”
The MoU communicates the commitment of ACWA Power and IEI to partake in both parties’ events, workshops and activities and exchange expertise from consultants and senior management at organised events and forums. The partnership will initiate professional dialogues and knowledge sharing that will bring about solutions which target challenges facing the region and elevate the private-public investor community in Iraq.
Demonstrating its role in nurturing young talent, ACWA Power will also take a leading role in IEI’s future scholarship programmes that will grant Iraqi students the chance to progress and excel in the energy and water fields in cooperation with other governmental and non-governmental partners.
The MoU was signed by Mr. Yesar al-Maleki, Managing Director of IEI, and Mohamed Fata Nahhas Business Development Manager at ACWA Power in the presence of Mohammad Abunayyan, Chairman of ACWA Power and Mr. Adnan Al Janabi, Vice Chairman of IEI.
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About ACWA Power:
ACWA Power is a developer, investor and operator of a portfolio of power generation and desalinated water production plants currently with presence in 12 countries including in the Middle East and North Africa, Southern Africa and South East Asia regions. ACWA Power employs over 3,500 people with about 60% local employment. ACWA Power’s portfolio, with an investment value in excess of USD 45 billion, can generate 30+ GW of power and produce 5.3 million m3 /day of desalinated water to be mostly delivered on a bulk basis to state utilities and industrial majors on long term off-take contracts under Public-Private-Partnership, Concession and Utility Services Outsourcing models. ACWA Power, registered and head-quartered in the Kingdom of Saudi Arabia, is owned by eight Saudi conglomerates, Sanabil Direct Investment Company (owned by the Public Investment Fund of Saudi Arabia), the Saudi Public Pensions Agency and the International Finance Corporation (a member of the World Bank Group). ACWA Power pursues a mission to reliably deliver electricity and desalinated water at a low cost, thereby contributing to the social and economic development of the communities and countries it invests in and serves. ACWA Power strives to achieve success by adhering to the values of Safety, People and Performance in operating its business. For more info, please visit www.acwapower.com.
Media contact details:
Sabina Khandwani
Director – Marketing & Communications
skhandwani@acwapower.com
Mohamed Yousef Ibrahim
Manager – Marketing & Communications
mibrahim@acwapower.com
+966(0)556607402
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