Acwa Power signs $478 million water supply deal with Dubai's DEWA
Acwa Power has agreed a 30-year water purchase deal worth about $478 million with Dubai's DEWA for the Hassyan desalination project, Reuters reports.
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what happened
Acwa Power, the Saudi utility group, said in a filing to the Tadawul exchange that it has signed a water purchase deal with DEWA. The agreement, worth 1.79 billion riyals or about $478 million, is tied to the Hassyan seawater desalination project in Dubai.
Once finished, the reverse osmosis plant at the Hassyan Complex is expected to produce 272,000 cubic metres of water daily. Acwa Power will hold a strategic 40% interest and will handle financing, construction and operation of the facility under a 30-year term.
An earlier phase, agreed in October 2023, was valued at roughly $914 million and was planned for capacity of 180 million imperial gallons per day.
why it matters
For markets the deal is modest in size, but it shows Saudi developers pushing further into water and power infrastructure across the Gulf. Long-dated contracts of this kind give developers and their investors a steadier stream of revenue over decades.
tags
instruments
sources
- ZAWYA: Saudi Arabia's ACWA Power signs $478mln water deal with Dubai's DEWA — Reuters, 29 October 2026 at 03:13 UTC
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