Riyadh – Mubasher: ACWA Power, a Saudi leader in the sectors of water desalination and conventional and renewable power generation worldwide, has signed an agreement with The First National Operation & Maintenance Co. (NOMAC), a wholly-owned subsidiary of ACWA Power, to form a new company, NMES, to provide advanced maintenance solutions for power and water plants in the Middle East.
Launching the new firm comes along with ACWA Power and NOMAC’s expansion and growth plan within these two sectors in the region, according to ACWA Power’s statement on Sunday.
The company noted that NMES will benefit from and feed on the in-depth knowledge derived from ACWA Power and NOMAC’s expertise in operating and maintaining energy and water desalination plants in the region.
“NMES will elevate value in countries that ACWA Power and NOMAC operate in through expert trainings, creation of job opportunities and upskilling of local talent in line with the companies’ commitment to bolster sustainable socio-economic prosperity,” the statement said.
The new firm, fully owned by NOMAC, intends to secure its regional market position in the UAE and increase its market share internationally.
It will also explore opportunities in renewable energy - a vital growth area for countries in the region.
The launch took place at NMES’ new facility in Dubai, in the presence of over 200 stakeholders attending on behalf of KSA and UAE utility companies including Dubai Electricity and Water Authority (DEWA), Sharjah Electricity and Water Authority (SEWA), and the Federal Electricity and Water Authority (FEWA).
“The launch of the new company comes within ACWA Power and NOMAC’s commitment to supplying the water and power market with robust human and technical capabilities that meet the requirements of companies operating in these sectors, as well as facilitating the implementation of their ambitious plans. It will also play a key role in bringing governmental sustainability visions and plans to reality,” Thamer Al Sharhan, chairman of NOMAC, commented on the deal.
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