ACWA Power to Build Azerbaijan's First Seawater Desalination Plant with SAR 1.5 Billion Investment

Riyadh | EcoPulse24

ACWA Power has announced the signing of a public-private partnership agreement (PPPA), along with related agreements, to implement the first large-scale seawater desalination plant using reverse osmosis (SWRO) technology in the Caspian Sea, Azerbaijan. The total investment amounts to SAR 1.5 billion (about USD 400 million).

According to the company's disclosure on the Saudi Tadawul website, the contract duration is 27.5 years, including the construction period. The financial impact from the contracted revenues will begin after the early commercial operation date (ECOD), which will be announced upon completion of the project's financial close.

ACWA Power stated that it holds a 100% stake in the project. The agreement covers the design, construction, financing, ownership, operation, and maintenance of the Caspian Sea desalination plant, in partnership with the Government of Azerbaijan, represented by the State Water Resources Agency (ADSEA), and in collaboration with the public partner through the Caspian Sea Azerbaijan Project Company LLC.

This project is part of ACWA Power’s broader strategy to expand its sustainable water and infrastructure projects internationally, strengthening its global presence and supporting its long-term growth strategy in the water and energy sectors, with a focus on high-efficiency technological solutions.