Saudi ACWA Power Inks SR3 Billion Agreement with Senegal for Desalination Plant
In a groundbreaking move, Saudi energy giant ACWA Power has signed a staggering SR3 billion ($800 million) agreement with Senegal’s Ministry of Water to develop a cutting-edge desalination plant.
Major Investment and Partnership
Partly owned by the Public Investment Fund, ACWA Power has officially inked a water purchase agreement for the construction of the state-of-the-art facility in Dakar, Senegal. The company made the announcement on the Saudi Stock Exchange, Tadawul, solidifying its commitment to the project.
Comprehensive Responsibilities
ACWA Power will take on a wide range of responsibilities for the Grande Cote seawater desalination plant, including infrastructure development, design, financing, construction, operation, and maintenance in the West African nation. The project is set to have an impressive production capacity of 400,000 cubic meters per day.
Timeline and Impact
The first phase of the project is expected to make a significant financial impact by the first quarter of 2028, with a contract duration of 32 years. This strategic move marks a continued partnership between ACWA Power and Senegal, following a memorandum of understanding signed with the Senegalese National Water Co. and the country’s National Electricity Co. in September 2022.
Revolutionizing Desalination in Senegal
The development of the desalination plant in Grande Cote represents a groundbreaking step towards sustainable water treatment in Senegal. The project is the first of its kind in the country to be facilitated through a public-private partnership and stands as the largest treatment initiative in Sub-Saharan Africa.