Dubai’s DEWA, Saudi’s ACWA Power reach financial close for Hassyan IWP.

Dubai Electricity and Water Authority (DEWA) and Saudi Arabia’s ACWA Power have concluded the financial arrangement for the Hassyan Independent Water Producer (IWP) project.

With a capacity of 180 million imperial gallons per day (MIGD), the project stands as one of the largest sea water desalination initiatives utilizing Reverse Osmosis (RO) technology within the IWP framework.

Valued at 3.377 billion UAE dirhams (US$920 million) and set for completion in 2026, the project forms a crucial part of Dubai’s ambitious strategy to generate 100% of its desalinated water by 2030 from a combination of clean energy and waste heat.

Upon its operational launch, the project is expected to significantly enhance the emirate’s water desalination capacity to an impressive 670 MIGD, as stated by the Dubai-listed utility provider in a Wednesday announcement.

The specific financing details and participating lenders have not been disclosed.

Source : Zawya

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