Bid & Tender
Acwa Power Wins Multiple Awards for Energy Projects

Date : Apr 01, 2016

Acwa Power, one of the fastest growing power and water developers in the Middle East and Africa, has scooped six industry awards in recognition of its successful projects and bid wins throughout 2015.


The awards are a testament to Acwa Power’s diverse energy mix, with the firm receiving awards for solar, wind and gas projects, along with a host of other awards, said a statement from the company.


Four of the wins came at the IJGlobal Awards, with the company picking up the best solar deal award for its Shuaa Energy I plant in Dubai, the best wind deal for its Khalladi Wind plant in Morocco, the best power deal for its Salalah 2 plant in Oman, as well as the ‘Regional Sponsor’ award for the Mena (Middle East and North Africa) region in 2015.


The company also received the ‘developer of the year’ award from the EMEA Project Finance Magazine.


Last month, Acwa Power was named ‘Global Sponsor of the Year’ by Project Finance Magazine at a high-level international ceremony in London, UK.


“2015 has been a remarkable year in the evolution of Acwa Power,” remarked Rajit Nanda, the chief investment officer, Acwa Power.


“During the year, we set global benchmarks for the safe, efficient and reliable delivery of power and water at the lowest possible cost,” he added.


Acwa Power has operations in 12 countries, including Saudi Arabia, Oman, UAE, Jordan, Morocco, South Africa, Turkey, Vietnam, Mozambique and Egypt.


Last year, saw the company win and/or achieve financial close on 11 projects with a total capacity of 4,869 MW and 12.5 million gallons per day (gpd), with an aggregate project cost of $7 billion, said Nanda.


These awards, he stated, represent some of the highest possible accolades in the world of infrastructure and project finance and are reward for the hard work and ingenuity that the team has shown in 2015.


"It crowns 10 years of operation where we are trailblazing the global industry in innovative renewable energy and clean coal technology to produce power and desalinated water to support the social development and economic growth of the communities in which we operate," he added.


On the win, Jon Whiteaker, the IJGlobal editor, said: "By any standards, Acwa Power had a big year of wins and financial closings. It pushed on at a frantic pace winning or closing 11 projects in five countries across two continents and using a broad spectrum of technologies including gas fired, sea water reverse osmosis, solar and wind."


The IJGlobal Awards, which celebrate outstanding transactions and institutions from the world of infrastructure finance, are held annually in four locations around the globe. 


The PFI Awards are part of the Thomson Reuters Awards for Excellence, recognising corporate and individual success in the global financial industry. It is the second time that Acwa Power has received the prestigious PFI recognition.