ACWA POWER Company announced the signing of the Water Purchase Agreement for Shuaibah 3 IWP Project a 600,000 m3/d plant located in Shuaibah governorate in Mekkah province in the Kingdom of Saudi Arabia. The Project is part of the conversion of the existing Shuaibah 3 IWPP plant into Seawater Reverse Osmosis Plant. The WPA has been signed between Shuaibah Three Water Desalination Company and Saudi Water Partnership Company.

The project is valued around SAR 3 billion SAR. Date of Announcement of the Award is 2022-06-20. Corresponding to 1443-11-21.

Contract Subject Matter: Water Purchase Agreement. Date of Signing the Contract: 2022-06-20. Corresponding to 1443-11-21.

Contract Value: 3 Billion SAR. Contract Details: Development, construction, and Operation of 600,000 m3/day SWRO. Contract Duration: 25 years.

Financial Impact and the Relevant Period: The financial impact of the contracted revenues is expected once the Project achieves Project Commercial Operating Date (PCOD) on Second Quarter 2025G. Additional Information: Shuaibah 3 IWP is associated with the conversion project of the existing co-generation plant of Shuaibah 3 IWPP.