Saudi Arabia plans to raise $55bn from privatization – Saudi Arabia Saudi Arabia aims to secure about $55 billion out of this privatization plan, of which $16.5 billion in the form of public-private partnerships, Minister of Finance Muhammad Al-Jadaan said on Thursday. Al-Jadaan the remarks during the high-level “G20 Infrastructure Investors Dialogue: Financing Sustainable Infrastructure for the Recovery“ event which was attended by G20 finance ministers, international and regional organizations, and major investors and asset managers representing the private sector. Al-Jadaan pointed out that the Kingdom has recently announced a privatization plan that includes a pipeline of 160 projects across […] Saudi Arabia plans to raise $55bn from privatization – Saudi ArabiaDME GmbH2021-06-04T09:55:40+02:00
GE, Shandong Tiejun complete substation for Saudi’s Rabigh-3 IWP – Saudi Arabia An Independent Water & Power (IWP) bulk supply joint project from Rabigh Three Company, co-owner, and operator of Rabigh-3 IWP plant, was secured by GE’s Grid Solutions. The Rabigh-3 IWP is majority-owned by ACWA Power. Meanwhile, the original agreement for the contract was signed between GE’s Grid Solutions and Shandong Tiejun Electric Power Engineering Co with project ownership under Rabigh Three Company. GE’s Grid Solutions completed the design, civil works, equipment supply, installation, testing, and commissioning of the 380/110 kV substation despite the challenges of the COVID-19 pandemic. The […] GE, Shandong Tiejun complete substation for Saudi’s Rabigh-3 IWP – Saudi ArabiaDME GmbH2021-06-02T15:44:53+02:00
Saudi Arabia seeks to fast-track use of renewable energy in desalination – Saudi Arabia Saline Water Conversion Corporation (SWCC) Governor Abdullah Ibrahim Al-Abdulkareem and Al-Jouf University President Mohammed Bin Abdullah Al-Shaya signed a memorandum of understanding with an aim to enhance and facilitate means of expertise and knowledge exchange between the two sides. The MoU also seeks to expand bilateral cooperation in a way that enables developing, conducting, and following up on research and training projects related to the industry of water desalination. This MoU is part of SWCC’s commitment to building fruitful strategic partnerships with Saudi universities, enhancing cooperation means in fields […] Saudi Arabia seeks to fast-track use of renewable energy in desalination – Saudi ArabiaDME GmbH2021-05-30T09:31:49+02:00
Saudi Arabia hopes to raise $55bn through privatisation – Saudi Arabia Saudi Arabia hopes to raise about $55bn over the next four years as it plans to step up its nascent privatisation programme with the government seeking to boost revenue and narrow its yawning budget deficit. Mohammed al-Jadaan, the finance minister, told the Financial Times that Riyadh had identified a pipeline of 160 projects across 16 sectors, including asset sales and public-private partnerships, through to 2025. Riyadh’s aim is to outsource the management and financing of health infrastructure and services to the private sector, as well as city […] Saudi Arabia hopes to raise $55bn through privatisation – Saudi ArabiaDME GmbH2021-05-24T12:18:16+02:00
Saudi power developer starts construction on South Africa’s largest renewable project – Saudi Arabia Saudi-based ACWA Power, an investor and operator of power generation and water desalination plants, has announced the start of construction on the 100MW Redstone solar thermal project in South Africa following financial close. At ZAR11.6 billion ($830 million) total investment, the Redstone project is the largest renewable energy investment in South Africa to date. The project has secured financing from international and South African financial institutions and has facilitated approximately ZAR7 billion in foreign direct investment to fund and support the strategic energy transition goals of the country. Saudi power developer starts construction on South Africa’s largest renewable project – Saudi ArabiaDME GmbH2021-05-13T15:55:44+02:00
Doosan Heavy Industries & Construction Finds Way Out of Deficits in Saudi Arabia – Saudi Arabia Hit hard by the Korean government’s ill-advised nuclear phase-out policy, Doosan Heavy Industries & Construction (DHIC) has been desperate to make a turnaround. The company announced on April 28 that it managed to turn a profit in the first quarter on a rebound in overseas sales. DHIC posted 4,004.7 trillion won in sales, 372.1 billion won in operating profit and 248.1 billion won in net profit in the first quarter on a consolidated basis. Its sales rose slightly on year while operating profit and net profit soared by 315.6 […] Doosan Heavy Industries & Construction Finds Way Out of Deficits in Saudi Arabia – Saudi ArabiaDME GmbH2021-04-29T16:02:48+02:00
ACWA Power inaugurates KSA’s first utility-scale renewable energy project – Saudi Arabia The inauguration of Sakaka PV IPP marks a pivotal moment in the continued energy diversification and development plans of Saudi Arabia. The project was awarded to an ACWA Power-led consortium at a world record tariff, at the time, of 8.781 halalas/kWh in 2018, which has paved the way for subsequent projects of the National Renewable Energy Program (NREP) to lower the cost of clean solar electricity in the Kingdom. Al Gihaz Holding, a major Saudi contractor and investor, owns a 30% stake in the Sakaka Solar Energy Company (SSEC), […] ACWA Power inaugurates KSA’s first utility-scale renewable energy project – Saudi ArabiaDME GmbH2021-04-11T15:20:56+02:00
Financial close reached for Saudi Arabia’s Yanbu-4 IWP – Saudi Arabia The Saudi Water Partnership Company (SWPC), as part of an alliance with a consortium comprised of France-headquartered ENGIE (40%) and Saudi based Nesma (30%) and Mowah (30%), recently achieved financial closure for the Yanbu-4 independent water producer (IWP) plant. The Yanbu-4 IWP plant is the first renewable integrated, seawater reverse osmosis project in the Kingdom that includes storage facilities for two operational days. The consortium, led by one of the world’s leading low-carbon energy and service solution providers, ENGIE, was awarded the Yanbu-4 project in February 2020 after […] Financial close reached for Saudi Arabia’s Yanbu-4 IWP – Saudi ArabiaDME GmbH2021-04-06T14:17:18+02:00
SWCC sets Guinness record for lowest energy consumption in water desalination – Saudi Arabia The Saudi Water Conversion Corporation (SWCC) has been recognised by Guinness World Records™ for the lowest energy consumption for a water desalination plant, with 2.27kW/h consumed per cubic metre of desalinated water. A statement from SWCC and Guinness World Records said the title further strengthens utility’s “global standing as a leader in the desalination industry”, as it “moves forward to accomplish the objectives of the Kingdom’s long-term Vision 2030 strategy by utilising local content and expertise in all its current and future expansion projects”. SWCC said it has been […] SWCC sets Guinness record for lowest energy consumption in water desalination – Saudi ArabiaDME GmbH2021-03-30T15:41:42+02:00
Saudi desalination company wins Guinness World Record in line with Vision 2030 – Saudi Arabia A Saudi Arabian company has won the Guiness World Record for having the lowest energy consumption of a water desalination plant. The Saudi Water Conversion Corporation (SWCC) set the record by using reverse osmosis technology, which uses pressure to force water through a membrane, effectively filtering out the salt without having to heat up the water. Advances in technology in the last two decades, including new membranes that require less water pressure, have led to a more widespread use of reverse osmosis in desalination. (LINK). Saudi desalination company wins Guinness World Record in line with Vision 2030 – Saudi ArabiaDME GmbH2021-03-25T16:07:34+01:00