Sharm El-Shaikh, Egypt \u2013 08 October 2023: Saudi-listed ACWA
\nPower, the world\u2019s largest private water desalination company,
\nleader in energy transition and first mover into green hydrogen,
\nhas reiterated the need for strong collaboration between public
\nand private sector players to speed up the transition to clean
\nenergy and water generation at the Asian Infrastructure
\nInvestment Bank\u2019s (AIIB) eighth Annual Meeting in Sharm El-
\nShaikh, Egypt.<\/p>\n
Held under the patronage and presence of the Egyptian President
\nAbdel Fattah El-Sisi, the event brought together members,
\npartners, business leaders, civil society organisations and industry
\nexperts to discuss investments aligned with sustainable economic
\ngrowth. ACWA Power was represented at the event by
\nAbdulhameed Al Muhaidib, Chief Financial Officer and Sarah Al
\nHarthey, Executive Manager of Business Development.<\/p>\n
Speaking during a panel discussion at the event titled \u2018Energy
\nTransition in the Middle East – Challenges and Opportunities\u2019, Al
\nMuhaidib said that the robust approach to PPPs taken by
\ngovernments in the Middle East has enabled the rapid scaling up
\nof low-carbon power generation and efficient water desalination
\nprojects.<\/p>\n
Al Muhaidib highlighted how the region is one of the fastest
\ngrowing when it comes to sustainable energy projects, discussing
\nhow the appetite for green projects has pushed ACWA Power to
\nraise the bar with competitive tariff rates on its projects. For
\ninstance, ACWA Power has reduced tariff rates on its solar PV
\nprojects by over 80% in just eight years.<\/p>\n
\u201cWe expect this appetite to ramp up even further in the coming
\nyears as governments realise the additional economic benefits of
\nchanging their energy mix beyond the climate and environmental
\nones,\u201d he added.<\/p>\n
During the session, Al Muhaidib also discussed the role of projects
\nsuch as the US$8.5 billion NEOM Green Hydrogen Project in
\naccelerating the pace of energy transition and how collaboration
\nwith government entities and offtakers is key in enabling such
\ndevelopments.<\/p>\n
\u201cAnother area for consideration is water desalination, a sector
\nthat ACWA Power is deeply committed to,\u201d said Al Muhaidib. \u201cIt is
\npart of our strategic mission to provide water in an affordable and
\nsustainable manner, which has seen us reduce the amount of
\nenergy consumption per cubic metre of water by 87% in the past
\ndecade.\u201d<\/p>\n
ACWA Power has also delivered some of the lowest water tariffs
\nglobally, most recently submitting the lowest water levelised tariff
\nrate in the world for the Hassyan Seawater Reverse Osmosis
\n(SWRO) facility in Dubai.<\/p>\n
In parallel, the event saw Sarah Al Harthey participate in a flagship
\nseminar titled \u2018Raising the Ambition to Meet the Climate
\nChallenge: Mobilisation of Resources for Climate Finance\u2019, where
\nshe discussed the devastating impacts of climate change on the
\nGlobal South, and how it is essential to mobilise resources to
\nimplement projects that enable energy transition.<\/p>\n
Over the coming months, ACWA Power will continue to pursue
\nnew opportunities and partnerships that align with its mission of
\ndelivering power and water in an affordable and accessible
\nmanner, with the least possible impact on the environment.<\/p>\n","protected":false},"excerpt":{"rendered":"
Sharm El-Shaikh, Egypt \u2013 08 October 2023: Saudi-listed ACWA Power, the world\u2019s largest private water desalination company, leader in energy transition and first mover into green hydrogen, has reiterated the need for strong collaboration between public and private sector players to speed up the transition to clean energy and water generation at the Asian Infrastructure […]<\/p>\n","protected":false},"author":3,"featured_media":1564,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[91,83,59,19,130,87,15],"tags":[369,2210,2214,2212],"class_list":["post-1563","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-arab-countries-en","category-egypt-en","category-energy-en","category-events-en","category-featured-en","category-gcc-en","category-press-releases","tag-green-hydrogen","tag-sharm-el-shaikh","tag-sustainable-energy","tag-water-desalination"],"yoast_head":"\n