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Wednesday, 21 February 2018

ACWA Power agrees to delay its Dairut plant

Saudi Arabia’s ACWA Power has agreed to push its USD 2.2 bn, 2.25 GW Dairut power plant to the Electricity Ministry’s 2022-2027 five-year plan instead of the 2017-2022 plan, unnamed ministry sources tell Al Mal. The delay is a result of the surplus in production currently on the national grid, according to the sources. The Saudi company also agreed to establish the plant in Qena, rather than Beheira as was originally planned. ACWA had reportedly been closing in on a power purchasing agreement with the ministry for the plant earlier this month. The company’s CEO had said that some USD 14 bn in power plant project MoUs the companies have signed have been put on hold.

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