ACWA Power-led consortium signs 25-year PPA for $4bln Az-Zour North 2 & 3 IWPP in Kuwait
Located in Al-Zour, south of Kuwait, the project will provide a net power generation capacity of 2,700 megawatts (MW) and net desalination capacity of 120 million imperial gallons per day (MIGD), according to a press statement by the Saudi-listed ACWA Power.
The ACWA Power-led consortium will design, finance, build, operate, and maintain the plant under a Build–Operate–Transfer (BOT) model.
KAPP will hold a 60 percent stake in the project company to be established for the project. Fifty percent of KAPP's share will later be offered to Kuwaiti citizens through a public subscription after the plant becomes operational and the company is listed on the Kuwait Stock Exchange, according to the statement.
(Writing by Deva Palanisamy; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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