| Middle East focus
Jazan
“In fact, we are pleased to have the Saudi Industrial Development Fund (SIDF) and 23 local and international lenders engaged in this transaction securing a total of $7.2 billion. We are optimistic that future investment offers the potential to be a game-changer in the years ahead.”
Air Products chairman, president and CEO, Seifi Ghasemi, said: “We are very proud to announce the finalisation of the definitive agreements for this complex transaction… This is a perfect fit with our growth strategy. It is a value-creating investment for Air Products and leverages our core syngas purification and
industrial gas production capabilities.” Mohammad Abunayyan, Chairman of ACWA Power, said: “Jazan IGCC is set to be the largest integrated project for gasification and combined cycle energy production in the world. Bringing the most advanced technologies to the Kingdom, the Jazan project will push the boundaries.”
On the way to 5 GW at the MBR solar park
The 300 MW first stage of the 900 MW Shuaa Energy 3 PV plant has been inaugurated. Shuaa Energy 3 is the fifth phase of the Mohammed bin Rashid Al Maktoum (MBR) solar park in Dubai. The inauguration of the project is said to mark “another transformative moment in Dubai’s continued energy transition and energy diversification strategies, and its development plans.” The 900 MW fifth phase was awarded to an ACWA Power led consortium at a world record tariff of 1.6953-dollar cent per kWh last year. Once fully operational, the Mohammed bin Rashid Al Maktoum facility is expected to be the largest single-site solar park in the world, with a planned total capacity of 5000 MW. Shuaa Energy 3 PSC is the special purpose vehicle incorporated for the project, 60% owned by DEWA (Dubai Electricity & Water Authority) (DEWA), with the remaining 40% split between ACWA Power and Gulf Investment Corporation (GIC).
The project employs state-of-the-art bifacial solar panels, which capture sunlight on both sides of the panel, with an advanced solar tracking system to increase generation efficiency. It also features an automated solar panel cleaning system, with 2662 automatic cleaning “robots” positioned around the plant. The system “guarantees a cleaning factor of 99.3%”, says Acwa Power, further optimising productivity. Work by an Acwa Power led consortium on
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construction of Phase 4 of the MBR solar park, the 950 MW Noor Energy 1 facility – a CSP and PV hybrid being implemented in three phases – is underway and “on track”, says the company. Phase 1 (13 MW of PV, constructed by First Solar), entered operation in 2013 and Phase 2 (200 MW of PV, developed by an Acwa Power led consortium) in 2017.
Phase 3 (800 MW of PV, developed by a Masdar led consortium) was constructed in three stages, 200 MW, 300 MW and 300 MW, which entered operation in 2018, 2019 and 2020, respectively.
Meanwhile, on its home ground, Acwa Power
has achieved financial close for the 1500 MW Sudair PV plant in Saudi Arabia, one of the world’s largest single-contract solar facilities. Acwa Power has also announced that Saudi Aramco Power Company (SAPCO) has joined the project consortium, which is led by ACWA Power and Badeel (Water & Electricity Holding Company).
The EPC agreement for the Sudair PV facility was signed with Larsen & Toubro in April 2021. The first phase of the project is expected to begin producing electricity during the second half of 2022, contributing towards the Saudi Green initiative.
Inauguration of Shuaa Energy 3, first stage
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