ACWA Power Barka SAOG announced water purchase agreement extensions. The company informed the Capital Market Authority, the Muscat Stock Exchange, and the Shareholders that the Company has been notified by OPWP about an extension award for the Water Purchase Agreements (WPAs) for two RO plants for 2 years with an option to extend further by another nine months in three equal tranches of three months. The WPA extension will start on or around 8 February 2022, depending on balanced period from existing contract.

The Company has accordingly executed the Amendment Agreements for this extension after securing approval from its Board of Directors and Project Lenders. The Board of Directors believes that the financial terms of the extension of the WPAs are in the best interest of the Company and its shareholders.