1

ACWA Power

Media Kit

Who is ACWA Power ?
Providing the foundations
for social development &
economic growth
Water and power are essential
commodities which provide the
foundations for social development and
economic growth. At ACWA Power we
focus on providing these efficiently,
reliably and safely, at the lowest possible
cost while also supporting the
communities in which we operate. We
are aware that our people and plants
can often make the difference to keep
the lights switched on and taps running.
The need for power and water has
never been more acute. Demand is
growing at an annual rate of seven
percent for electricity and six percent for
water in the countries in which we
operate, largely as a result of population
growth, greater urbanisation and
industrialization, as citizens in emerging
markets aspire to middle class lifestyles.
But statistics often disguise the true
nature of the demand gap as many less
efficient plants are decommissioned, or
fail to meet more rigorous environmental
standards.
Founded more than 10 years ago in the
Kingdom of Saudi Arabia in response to
government liberalisation of the energy
market, we’ve defined and refined the
Public Private Partnership (PPP) model.
We’ve done this by viewing the
governments in the markets in which we
operate as partners.
By focusing on countries with a
commitment to PPP we’ve been able to
build up real expertise using this model to
offer government partners quick to market,
efficient, reliable, ongoing operations. A
key factor in our success has been our
policy of also being investors in the plants
which we build and operate. This means
that we have vested interest in the success
of the operations throughout the 25+ year
lifecycles.
This model also means we are fully
committed to support the host
communities in which we operate. We do
this through skills training and development
to provide a technically proficient local
workforce, while also fostering local SMEs in
our supply chain. In 2016 we funded 47
community projects with a value of SAR 11
Mn to support local communities develop
additional revenue streams from farming
improvements to arts and crafts. Our
objective is to create long-term economic
value. We do this in two ways; using our
strong market presence to drive down
costs along the entire length of our supply
chain and recoup our costs over a
generational (25-30 years) time frame.
2
This long-term view means that we
become invested in the prosperity and
stability of the nations in which we
operate. We complement this dual
approach with a focus on employing the
brightest global talent to ensure we
remain on the technological cutting
edge – this has allowed us to break
records; such as our tender for Dubai’s
utility company’s (DEWA’s) Phase II and
Phase IV of the Sheikh Mohammed bin
Rashid al-Maktoum solar park which set
the cheapest offtake price globally for
solar energy at just US Cents 5.86 kWh
and 7.3 cents kW/h respectively.
ACWA Power is technology neutral and
fuel agnostic. Using our experience,
expertise and technological advantage,
we select the most appropriate, efficient
and reliable process to produce energy
and water solutions. We have a
commitment to sustainable solutions. Our
energy portfolio is diverse including solar
(PhotoVoltaic (PV)) and Concentrated
Solar Power (CSP)), geo-thermal, wind
power, waste-to-energy and clean coal.
16 percent of our portfolio is renewable
energy by project cost and almost half
our projects currently at financing stage
are in renewables.
By focusing on excellence, sustainability
and technological innovation, we deliver
long-term energy and water solutions to
nations and communities in our selected
markets of operations.
 3
Water and Power as building blocks for
Development

Water and Power are the twin building blocks of life, yet we’re
facing a potential shortage in both as population increase and
more people aspire to middle class lifestyles already expected
in the industrialised world. The UN estimates that global energy
demand will grow by 60 percent by 2040, while demand for
water in the markets where we operate is growing at least six
percent annually.

Every aspect of the modern economy, from lighting to

computing, depends on power; while the need for clean water
is a self-evident aspect of our very humanity. However, few
understand the inextricable link between the two. A study by
researchers at Aarhus University and Vermont Law School
showed that by 2040 there will not be enough water in the
world to meet drinking needs and energy
demands if current patterns of usage continue.

The problem is further compounded when we consider the two

other primary uses of water: agriculture and extractive
industries. These connections mean that 45 percent of total
global GDP, US $ 63 trillion, will be at risk due to water stress by
2050; that’s 1.5 times the size of today’s global economy. No
development model is complete without providing solutions in
both energy and water.

ACWA Power is distinguished from many of its competitors as it

provides both power and water solutions. At ACWA Power
we’ve always understood this link; we’re a Saudi owned
company, and 50 percent of our projects are in the Kingdom.
We’re committed, alongside our partners, to be a solution to
both energy and water shortages, often operating in some of
the toughest physical environments in the world.

We’re a development enabling company that looks to use the

latest technologies in the world to help governments meet the
needs of their growing populations. That means a business
model focused on making profits over the long-term, not next
week. Long-term challenges require long-term solutions, and at
ACWA Power we’re determined to rise to that challenge.
 4
A technology agnostic approach

Tackling today’s and tomorrow’s water challenges

requires a broad approach. We’re not wedded to
any particular technology but take an agnostic
approach; we chose the technologies most
appropriate to meet the needs of the nations and
communities with whom we partner. Whatever
technology we use we won’t compromise on our
commitment to the environment and social
sustainability and to providing value over the long-
term.

We’re able to work at the cutting edge of so many

diverse technologies because of our business
model: we develop, invest and operate. Cutting-
edge technology and rigorous supply chain
management allow us to keep tariffs low and set
global benchmarks for delivering the world’s
cheapest energy.

ACWA Power has the capacity to generate

22+GW of power and produce 2.7 million m3 of
desalinated water per day. We’ve always had a
commitment to clean energy and we’re investing
in renewables because that’s where enduring
solutions lie. 14 percent of ACWA Power’s energy
portfolio by project cost is in renewable energy.

In the coming pages, we will look at the range of

energy generation and desalination technologies
ACWA Power deploys and give examples of how it
is used in our power plants around the world. A full
list of our projects can be found on our website.
 Concentrated Solar Power (CSP)

Our Renewable Power Concentrated solar power systems generate solar power by using
5
mirrors or lenses to focus a large area of sunlight onto a small area –

Generation Technologies unlike PV, which generates power through the photovoltaic effect.
Electricity is generated when the concentrated light is converted to
heat, which drives a steam turbine connected to an electrical
power generator.

Our latest addition to our CSP portfolio is the record-breaking

700MW CSP 4th phase of the Mohammed Bin Rashid Al Maktoum
Solar Park. The project set a new benchmark with a tariff of $7.30c
kW/h, providing electricity during the night.

Photovoltaic (PV)

A photovoltaic power station, also known as a solar park or farm, is

a large-scale photovoltaic system (PV system) designed to supply
power into the national electricity grid. Most people will be familiar
with these from the large numbers of photovoltaic modules
(colloquially known as solar panels), which can cover significant
amounts of land. Unlike distributed solar panels on buildings our
photovoltaic plants supply electricity at the utility level, directly
replacing older power plants.

ACWA Power was awarded the second phase of the 1GW

Mohammed bin Rashid Al Maktoum Solar Park. The tariff, set at 5.84
US Cents/kWh over a 25-year period, was the lowest in the world at
the time. This reflects the declining costs of Solar PV technology,
which are making it more cost competitive with conventional
sources like natural gas.

Wind

Wind power is the use of air flow through wind turbines to mechanically
power generators for electricity. Like our solar farms, our wind farms
connect multiple turbines direct to the power grid, replacing
conventional power stations. Wind power varies significantly over the
year and often needs to be complemented with other sources of
electricity to ensure consistent power generation.

ACWA Power’s Khalladi in Morocco is a 120MW Wind Farm IPP that has
been developed in partnership with UPC Renewables. Located 30Km
East of Tangiers it won ‘Best Wind Deal’ in the IJGlobal awards.
 6

Thermal Storage Technology (TES)

Thermal energy storage (TES) stocks thermal energy by

heating a storage medium so that the stored energy can
be used at a later time for concentrated power
generation. It can be combined effectively with solar
power generation to allow continuous energy usage
through the night-time. The Bokpoort CSP project is a
Greenfield Independent Power Project (IPP) which is part
of South Africa’s renewable IPP program. The project has a
total power generating capacity of 50MW net power
output. It is equipped with the largest thermal storage size
ever adopted for a similar operational size.
 Gas 7

Our Hydrocarbon Portfolio Some of the earliest power stations in ACWA Power’s portfolio
are natural gas and they remain a core part of our business. They
generate far less GHG emissions that the traditional coal and oil
fired stations used throughout the region.

One of our latest plants Hajr IPP is being developed on a build,

own, operate basis on the eastern coast of Saudi Arabia and will
have a net generation capacity of 3,927MW. The design
production capacity will make it the largest IPP combined cycle
gas-fired power plant in the world.

Hajr IPP was recognised as a landmark transaction and won

numerous awards including the Middle East IPP Deal of the Year
(2011) from Project Finance magazine, and the Best Project
Finance Deal in 2011, Islamic Finance and ‘Best Power Deal’ from
EMEA in Finance Magazine.

Clean Coal

Clean coal power stations use sophisticated technologies to

mitigate emissions of carbon dioxide (CO2) and other
greenhouse gases that arise from the utilization of coal. There are
seven clean coal technologies currently deployed: carbon
capture and storage, fluegas desulfurization, fluidized-bed
combustion, integrated gasification combined cycle (IGCC), low
nitrogen oxide burners, selective catalytic reduction (SCR), and
electrostatic precipitators.

In 2015 ACWA Power, was chosen by the Dubai Electricity and

Water Authority (DEWA) to lead a consortium, alongside Harbin
Electric International, to develop, construct and operate Phase 1
of the 2,400MW Hassyan clean coal power plant. The project
received the “Power Deal of the Year 2016” accolade at the IJ
Global Awards.

The plant, located in Saih Shuaib on the border between Dubai

and Abu Dhabi, also includes integrated transhipment coal and
dry bulk handling facilities. The ultra-supercritical plant is the first
coal based power plant in the GCC region and is designed to
be a ‘best in class’ plant in terms of efficiency, output and
adherence to global environmental best practices.
 8

Desalination
We remove salt from water to make it suitable for
human and agricultural use. Desalination is the
life blood of many countries in the Middle East
and Africa, where sufficient fresh water resources
simply do not exist to support modern population
levels. There are multiple desalination
technologies used at various stages of the
process, but all these fall under two broad types:
Thermal desalination and reverse osmosis.
 9

Thermal Desalination

Essentially boiling water, using a vacuum distillatory, at less than

atmospheric pressure. The method allows water to be boiled at a
lower temperature than in air helping to reduce power
consumption, however this method is still power intensive and we
often co-locate our desalination plants with power stations.

ACWA Power’s Marafiq IWPP is the world’s largest power and

desalination plant, consisting of 16 units of gas fired GE turbines
with a net capacity of c.2,743MW and 27 desalination units
manufactured by SIDEM, producing 800,000 m3/ day of
desalinated water. Three of the four blocks are power and
desalination blocks, each of which comprises three gas turbines
operating in a combined cycle with a single backpressure steam
turbine. Steam from the turbine exhaust is used to feed the
desalination process.

Reverse Osmosis

Membrane processes use semipermeable membranes and

pressure to separate salts from water. Reverse osmosis plant
membrane systems typically use less energy than thermal. ACWA
Power’s Barka IWP expansion near Muscat in Oman, uses
reverse osmosis technology to produce 45,460 m3/day of
desalinated water. The plant is built and operated in conjunction
with NOMAC Oman distillation. ACWA Power’s desalination
facilities range from fixed, coastal installations to floating barges.
Biographies
10

Mohammad A. Abunayyan
Chairman

With more than 30 years of experience in water desalination and

power generation, Mr. Abunayyan serves as chairman of ACWA
Power International and Abunayyan Holding, where he is widely
recognized as one of the most respected leaders in the water
and energy sectors.

Under his leadership, ACWA Power has grown into a leading

private sector energy and water provider, achieving significant
milestones since he founded the company in 2004. Mr.
Abunayyan also serves as Chairman and Board Member of
several world-leading organisations, in addition to holding a
number of prestigious honorary and leadership positions focused
on transforming and diversifying the economy of Saudi Arabia.

Specialist topics

• Power and water needs in developing nations

• Innovation and best practices in the energy and water sectors
• How energy and water projects can be a stimulus for social
development and economic growth
• Economic diversification in the Kingdom of Saudi Arabia
 Mr. Padmanathan is a Mr. Al Sharhan is a professional
professional civil engineer, with
over 35 years of experience. He
joined ACWA Power as CEO in
2006.
Mr. Padmanathan began his
career in Black & Veatch
(previously John Burrow and
Partners), a major global
engineering and construction
Paddy Padmanathan company, latterly serving as a
President & CEO Vice President and Corporate
officer. He has worked in the UAE,
Algeria, Botswana, Zambia and
Swaziland, amongst others.
Mr. Padmanathan holds a degree
in engineering from the
University of Manchester and
serves on the board of several
water and power companies.
Specialist topics
•ACWA Power’s business strategy
•Worldwide power and water
needs
•Fostering talent
•The future of sustainable
technology
•Working with governments as a
private sector provider
11
engineer with over 30 years of
experience. Before joining ACWA
Power, as Managing Director, Mr.
Al Sharhan was President and
Chief Executive Officer of
Marafiq; the principal utility
company serving the cities of
Jubail and Yanbu.
His career began at SABIC where
Thamer Al-Sharhan he rose to become President
Managing Director of Saudi Petrochemical Company
(SADAF), President of SABIC
Terminal Services Co. (SabTank)
and Senior Manager at Arabian
Petrochemical Company
(Petrokemya).
Mr. Al Sharhan holds a degree in
chemical engineering and
serves on the
board of several companies and
charitable foundations.
Specialist topics
•ACWA Power’s business strategy
•Working with governments as a
private sector provider
•The challenges of utility provision
in the GCC
•Advances in petro-chemical
technology

Mr. Nanda is responsible for
ACWA Powers’ growth and
remains functionally in charge of
new business development, legal
(projects), acquisitions & project financing, security offering
divestiture, and corporate and
project finance. Mr. Nanda has
also led the structuring and
financing of Independent Water
Rajit Nanda
and Power Projects IPP / IWPPs in
Chief Investment Officer
Oman, Saudi Arabia, Jordan,
Bahrain, Abu Dhabi, Qatar,
Thailand, Singapore, Morocco,
Turkey and South Africa. He is
currently overseeing ACWA
Power’s expansion across MENA,
Southern Africa and South East
Asia.
Before joining ACWA Power Mr.
Nanda was the Regional CFO
for Engie’s Middle East, Asia &
Africa region. Mr. Nanda sits on
the Board of several power and
utility companies owned and
operated by ACWA Power.
Specialist topics
•Energy and desalination finance
•ACWA Power’s expansion plans
in the GCC, North & Southern
Africa, and South East Asia
•IPP financing model
•The future of the Power & Utilities
industry
12
Mr. Rana has over 10 years of
power and water sector
experience covering all areas of
project development, structuring,
and other areas of operational
finance and tax structuring.
Before becoming CFO, Mr. Rana
was Director of Accounting,
Kashif Rana
Controls & Taxation at ACWA
Chief Financial Officer
Power and CFO for AES Middle
East Region.
Mr. Rana is a Chartered
Accountant who qualified in 2001
from the Institute of Chartered
Accountants of Pakistan.
Specialist topics
•ACWA Power’s business strategy
•Compliance in the energy sector
•Tax environments in the GCC
with regard to the energy and
desalination sectors

Mr. Lucas Hautvast has over 15
years of experience in the power
sector covering all areas of PPA
markets, strategy and M&As.
Before joining ACWA Power as
COO of International Assets,
Hautvast was regional CEO for the
Middle East, South Asia and Africa
at ENGIE.
Mr. Hautvast holds a MBA of the
University of Groningen, The
Netherlands and sits on the Board
Lucas Hautvast of several power and utility
Chief Operating Officer- companies owned and operated
International, Assets by ACWA Power.
Management
Specialist topics:
• ACWA Power’s business strategy
• ACWA Power’s assets and asset
management
• Power purchase agreements
• Merchant markets
Barbaros Plaza, Emirhan Caddessi,
KINGDOM OF SAUDI ARABIA
Building 1, Ground Floor
Business Gate Office Complex,
Airport Road,
P.O. Box 22616, Riyadh 11416
Tel: +966 11 283 5555
Fax:+966 11 283 5500
UNITED ARAB EMIRATES
The One Tower, 41st Floor,
Barsha Heights,
Sheikh Zayed Road,
P.O. Box 30582, Dubai
United Arab Emirates
Tel: +971 4 5090 555
Fax: +971 4 3859 625
EGYPT
1st Floor, Giza Systems Building,
Second Sector, City Center,
P.O. Box 351, New Cairo,
Tel: +202 2322 5500
MOROCCO
65, Avenue Mehdi
Ben Barka, Souissi,
Rabat 10100
Tel: +212 537 287 878
Fax: +212 537 714 165
SPAIN
Empresarios Agrupados
Calle Magallanes 3,
28015, Madrid
TURKEY
No.113 Kat.19, Dikilitas,
Besiktas, Istanbul
Tel: +90 212 259 3396
Fax: +90 212 259 3397
www.acwapower.com
13
KINGDOM OF SAUDI ARABIA
King Abdulaziz Branch Rd,
Ash Shati,
Jeddah,
23613
Tel: +966 12 618 9000
CHINA
Tower B, Ping An International Finance
Centre,
P.O. Box 2101, Beijing 010027
Tel: +86 10 5979 2330
Fax: +86 10 8438 1078
JORDAN
Amman-Khelda, Al Khalideen Suburb,
Al Hakam Bin Amro Street,
Bldg No. 22,
P.O. Box: 2564, Amman 11953
Tel: +962 (6) 534 0008
Fax: +962 (6) 535 7210
SOUTH AFRICA
7th Floor, 90 Grayston Drive,
Sandton,
Johannesburg, 2196
Tel: +27 11 722 4100
Fax: +27 11 722 4113
OMAN
South Lobby Roof Top, Grand Mall,
P.O.Box: 163, PC: 136,
Al Khwair, Muscat
VIETNAM
11th floor, BIDV Tower 194,
Tran Quang Khai St.,
Hoan Kiem District, Hanoi,
T: +84 43 935 2966
F: +84 43 935 2969