| Element List | Explanation |
|---|---|
| Introduction | ACWA Power is pleased to announce that its subsidiary, Barka Water and Power Company SAOG (BWPC) has received a letter of award from Nama Power and Water Procurement Company, Oman (PWP) for extending the Power and Water Purchase Agreement (PWPA). BWPC is a subsidiary of ACWA POWER Co., registered in Sultanate of Oman and listed in the Muscat Stock Exchange. |
| Date of Award | 2024-04-24 Corresponding to 1445-10-15 |
| Counterparty | Nama Power and Water Procurement Company (PWP), Oman. |
| Project Value | USD 356 million (SAR 1,335 million). |
| Expected Date for Signing the Contract | 2024-05-27 Corresponding to 1445-11-19 |
| Project Details | The award includes extending the operation of the Power plant for 8 years and 9 months term with operations starting from 1 June 2024 and the water plant for 3 years term starting from 1 September 2024 with extension option at PWP’s discretion for a further term of 3 years and another term of 2 years & 9 months (total 8 years and 9 months term). BWPC has accepted the award on 24 April 2024 and is currently working with PWP on the finalization and approval of the PWPA and other project agreements. |
| Related Parties | NA |
