DUBAI: ACWA Power, a leading developer, owner, and operator of power generation and water desalination plants, successfully concluded its participation at World Future Energy Summit (WFES), which took place last week during Abu Dhabi Sustainability Week.

Over the course of the four-day event, ACWA Power made a number of global announcements including the adoption of SolarCoin; a blockchain-based digital asset and crypto currency designed to accelerate the transition to clean energy technology. In addition, Dr. Andrea Lovato, Executive Director, Business Development, ACWA Power hosted a workshop covering opportunities for low cost renewables in the Mena region.

During the exhibition, ACWA Power also awarded an EPC contract to China’s Chint Group for three solar photovoltaic power plants at Benban, Egypt within the Feed-in-Tariff (FiT) programme. The EPC contract moves forward the construction of these three projects of a total investment value of $190 million, which together will generate a total of 165.5 MWp.

The company also announced the roll out of a centralised control and monitoring pilot project that will implement Huawei’s FusionSolar solution for enhanced plant management, monitoring and control. The system allows solar plant operators to control and monitor performance without being on site, lowering the labour and cost requirements for O&M.

Paddy Padmanathan, President & CEO of ACWA Power said, “WFES is a leading global event for energy and the environment and it was a privilege to be able to showcase our own contributions in these domains. At ACWA Power, we know power and water are the foundations for social development and economic growth and as such it is vital to exchange insights with fellow industry leaders, so we can continue to deliver long-term solutions for governments and communities in the markets where we operate.”

ACWA Power operates in eleven countries, and has deployed a variety of technology solutions to support governments in reliably supplying desalinated water and power at the lowest possible cost.

ACWA Power, registered and head-quartered in the Kingdom of Saudi Arabia, is owned by seven Saudi conglomerates, Sanabil Direct Investment Company (owned by the Public Investment Fund of Saudi Arabia), the Saudi Public Pensions Agency and the International Finance Corporation (a member of the World Bank Group).

ACWA Power pursues a mission to reliably deliver electricity and desalinated water at the lowest possible cost, thereby contributing to the social and economic development of the communities and countries it invests in and serves.

ACWA Power strives to achieve success by adhering to the values of Safety, People and Performance in operating its business.