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Wednesday, 29 August 2018

Negotiations on ACWA Power’s Dairut power plant stalled

Negotiations between Saudi Arabia’s ACWA Power and the Electricity Ministry over the former’s USD 2.2 bn, 2.25 GW Dairut power plant have stalled after nearly several months of negotiations, according to ministry sources. It remains unclear what is behind the stalled talks, but the sources noted that ACWA has yet to receive the allocated land for the plant, despite agreeing to relocate it to Luxor. Last we heard, ACWA had agreed in February to push the plant to the ministry’s 2022-2027 five-year plan instead of the 2017-2022 plan due to the surplus in production currently on the national grid. ACWA had also reportedly been closing in on a power purchasing agreement with the ministry for the plant.

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