Saudi Arabia's ACWA Power plans $10 billion of investments in 2020: CEO

[ArabianEmpires&Caliphates]

COMMODITIES
JANUARY 11, 2020 / 3:44 PM / A MONTH AGO
Saudi Arabia's ACWA Power plans $10 billion of investments in 2020: CEO

FILE PHOTO: Saudi Acwa Power-generating windmills are pictured in Jbel Sendouq, on the outskirts of Tangier, Morocco, June 29, 2018. REUTERS/Youssef Boudlal

ABU DHABI (Reuters) - Saudi Arabian utility developer ACWA Power is planning to invest about $10 billion in 2020 as it eyes new projects in some 10 countries, the company’s chief executive said on Saturday.

The company, which builds power and desalinated water plants and has 50% of its portfolio in Saudi Arabia, plans to expand into new markets, Paddy Padmanthan told Reuters on the sidelines of an energy event in Abu Dhabi.


ACWA Power has assets in 12 countries and has bid for renewable energy projects in five new countries – Ethiopia, Tunisia, Cambodia, Azerbaijan and Uzbekistan.

“We have won two renewable energy projects (in Ethiopia) this year which together will produce 300 mega watts, they will run in parallel and be worth about $500 million of investments,” he said.

“A few days ago we signed a contract worth $300 million dollars to produce 200 mega watts in Azerbaijan. We are looking at another east European country, we might have something there in the course of a month to six weeks,” he added.

Padmanthan said ACWA was also developing several new renewable energy projects in Indonesia, which he expects to be worth around $500 million, and aimed to expand its portfolio to Jordan and Morocco, as well as boost its operations in Saudi Arabia and the United Arab Emirates.

Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), holds a 25% stake in ACWA and is planning to increase that to 40%.

https://www.reuters.com/article/us-...lion-of-investments-in-2020-ceo-idUSKBN1ZA0K5

ACWA is one of the leading firms in the world in its field. Suffice to say that there is a renewables energy boom in KSA with KSA being one of the largest if not the largest investor domestically and abroad. Obviously enormous potential for alternative energy (solar, wind, thermal, hydro etc.) in KSA as well.

 

[BATMAN]

Renewable energies is the way to go.
A foreign sponsored mafia in Pakistan is trying to hold Pakistan back from alternate energy development.

 

[ArabianEmpires&Caliphates]

Renewable energies is the way to go.
A foreign sponsored mafia in Pakistan is trying to hold Pakistan back from alternate energy development.

KSA has been willing to invest in Pakistan on numerous fields (not only renewables) but given the ground realities in Pakistan (corruption and political mafias) the projects keep getting delayed or are not occurring at all. As an investor you are looking for the most favorable/profitable/trouble free investment environment and the host should make himself attractive to the investor.

Then Pakistanis wonder why KSA (and most investors from across the world) are looking elsewhere.

Without comparing with Pakistan but it is a bit like Somalians, Afghanis, Yemenis, Iraqis and Syrians wondering why half of the world is not looking to invest in their countries.

 

[gangsta_rap]

whats an investment

 

[ArabianEmpires&Caliphates]

Uzbekistan signs 2 bln USD energy agreements with Saudi Arabia's ACWA Power
Source: Xinhua| 2020-03-06 03:16:49|Editor: yhy

TASHKENT, March 5 (Xinhua) -- Uzbekistan has signed strategic agreements with Saudi Arabia's ACWA Power company to build thermal and wind power plants worth of 2 billion U.S. dollars, the country's ministry of energy said Thursday.

One of the agreements envisages a 25-year power purchase agreement with a total investment value of 1.2 billion dollars for a 1.5 GW gas-turbine power plant to be built in Sirdaria region, the ministry said.

National Electric Networks of Uzbekistan will act as the sole buyer of electricity under the power purchase agreement, according to the statement.

According to another agreement, ACWA Power will invest up to 1.1 bln U.S. dollars to build a wind farm with the capacity of 1 GW, the ministry said.

"Since infrastructure development is the key to our economic progress, we need the best international experience to support our ambitious energy goals. We selected ACWA Power as a strategic partner in expanding the power generation capacities in Uzbekistan due to their exceptional experience ..." the statement quoted Minister of Energy Alisher Sultanov as saying.

http://www.xinhuanet.com/english/2020-03/06/c_138847440.htm

ACWA is doing great lately. Winning many orders across the world.

Saudi's Acwa Power signs deal to develop sustainable water desalination sector in Egypt

https://www.arabianindustry.com/uti...e-water-desalination-sector-in-egypt-6343077/

 

[CrazyZ]

Renewable energy will grow much faster then other forms of energy in the near future. Many Scandinavian oil producing companies have shifted into building out renewable power. It is good that Saudi is also making the shift.

KSA has been willing to invest in Pakistan on numerous fields (not only renewables) but given the ground realities in Pakistan (corruption and political mafias) the projects keep getting delayed or are not occurring at all. As an investor you are looking for the most favorable/profitable/trouble free investment environment and the host should make himself attractive to the investor.

Then Pakistanis wonder why KSA (and most investors from across the world) are looking elsewhere.

Sadly. I would agree. The PPP and PML regimes of the past have been horrible economic hitman against Pakistan. PMIK is trying change things but it will take time.

 

[ArabianEmpires&Caliphates]

Renewable energy will grow much faster then other forms of energy in the near future. Many Scandinavian oil producing companies have shifted into building out renewable power. It is good that Saudi is also making the shift.



Sadly. I would agree. The PPP and PML regimes of the past have been horrible economic hitman against Pakistan. PMIK is trying change things but it will take time.

The reality is that investments do not care about nationality.

If I have a business and I can chose between a competent Saudi Arabian or Arab or a non-competent American, I am never going to chose the American as he would be an economical burden. Or vice versa. If Pakistan had been a much better source of investment, many more countries would have been investing in Pakistan. India has done better on this regard (as have Bangladesh) and we see the results. We can only hope for the best and for the situation to change but it requires Pakistan to change as well.

Similar to how KSA needed a few years of economic hardship to kickstart the transformation away from oil in recent years. A transformation that has not ended yet and which will not be a piece of cake.

It is not about KSA or 500 million Arabs suddenly waking up one night and deciding to hate on Pakistan while loving India, Bangladesh etc., lol.

Or some kind of conspiracy.

Even though many gullible Pakistanis on PDF think so.

 

[CrazyZ]

The reality is that investments do not care about nationality.

If I have a business and I can chose between a competent Saudi Arabian or Arab or a non-competent American, I am never going to chose the American as he would be an economical burden. Or vice versa. If Pakistan had been a much better source of investment, many more countries would have been investing in Pakistan. India has done better on this regard (as have Bangladesh) and we see the results. We can only hope for the best and for the situation to change but it requires Pakistan to change as well.

Similar to how KSA needed a few years of economic hardship to kickstart the transformation away from oil in recent years. A transformation that has not ended yet and which will not be a piece of cake.

It is not about KSA or 500 million Arabs suddenly waking up one night and deciding to hate on Pakistan while loving India, Bangladesh etc., lol.

Or some kind of conspiracy.

Even though many gullible Pakistanis on PDF think so.

Protecting your reputation is very important to success. Pakistan has ruined its reputation economically. We can only blame ourselves (Its no conspiracy). Hopefully with more peace in Afghanistan and a Civil-Military elite focused on sustained economic development (which I believe we have now). Things will change.

Based on my assessment, Pakistan is the only country in South Asia that can achieve near first world per capita electrical energy production with out imports. 60 GW of Hydro, 40 GW from Thar Coal is easily achievable. Throw in Solar, Wind, nuclear and potentially shale gas...200GW is possible. That would probably overtake Japan and all western European countries even Russia. Obviously that would take time, but 200GW electric grid by 2050 is within the realm of possibility (that would be within the top 5 globally by 2050).