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  • ACWA Power’s Unit, Oman-based Nama Join Forces for $356mln Project
Barka Water and Power Company SAOG (BWPC), a subsidiary of ACWA Power Company, was awarded a project by Oman-based Nama Power and Water Procurement Company on 24 April 2024, with the signing date expected to be on 27 May. The two entities will extend the power and water purchase agreement (PWPA) to implement the joint project, valued at $356 million (SAR 1.33 billion). The deal covers the operation of a power plant for eight years and nine months, commencing on 1 June 2024. Meanwhile, the water plant will operate for three years starting from 1 September 2024. This project marks the continuation of the long-standing relationship between Oman and ACWA Power, which began with their first investments in 2011 and included a historical agreement in 2022 regarding green hydrogen development. This recent collaboration underscores the ongoing shift from oil-based energy to sustainable, renewable energy sources.

ACWA Power’s Unit, Oman-based Nama Join Forces for $356mln Project

Barka Water and Power Company SAOG (BWPC), a subsidiary of ACWA Power Company, was awarded a project by Oman-based Nama Power and Water Procurement Company on 24 April 2024, with the signing date expected to be on 27 May. The two entities will extend the power and water purchase agreement (PWPA) to implement the joint project, valued at $356 million (SAR 1.33 billion). The deal covers the operation of a power plant for eight years and nine months, commencing on 1 June 2024. Meanwhile, the water plant will operate for three years starting from 1 September 2024. This project marks the continuation of the long-standing relationship between Oman and ACWA Power, which began with their first investments in 2011 and included a historical agreement in 2022 regarding green hydrogen development. This recent collaboration underscores the ongoing shift from oil-based energy to sustainable, renewable energy sources.

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