Acwa Power has finalized a significant water purchase agreement valued at $478 million with the Dubai Electricity and Water Authority (DEWA) for the Hassyan seawater desalination project. This agreement marks a crucial step in enhancing Dubai’s water supply capabilities, with the facility expected to produce 272,000 cubic meters of water daily upon completion.
The project, situated within the Hassyan Complex in Dubai, will see Acwa Power holding a 40% stake. The agreement encompasses the development, financing, construction, and operation of a reverse osmosis desalination plant, which is designed to bolster the region’s water resources. The water purchase agreement is set to last for 30 years, ensuring a long-term supply of desalinated water to meet the growing demands of Dubai’s population and industries.
According to Acwa Power’s filing to the Saudi stock exchange, Tadawul, this latest deal follows previous agreements made in October 2023 for the first phase of the Hassyan seawater desalination project, which was valued at approximately $914 million and aimed to achieve a capacity of 180 million imperial gallons per day.
This strategic partnership between Acwa Power and DEWA underscores the commitment to sustainable water management in the UAE, aligning with the country’s broader goals of enhancing infrastructure and ensuring resource availability for future generations. The Hassyan project is expected to play a pivotal role in supporting Dubai’s growth while addressing environmental concerns associated with water scarcity.
For further details, refer to ME Construction News.
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