Saudi private power and desalination project developer Acwa Power has won renewables projects in recent years that have helped establish the Mena region as a low-cost base for renewables projects, though few have yet to get built. Acwa has been awarded a series of Mena solar projects at record-low prices. But the company’s list of assets – it holds equity in 22 power and desalination projects – includes older plants burning heavy fuel oil (HFO) and gas. Even its 15 projects under construction include a coal-fired plant and one burning HFO.

Acwa had equity in assets with a combined capacity to generate 22.6GW of electricity and desalinate 2.7mn m³/d of water as of the end of 2017, mainly in Saudi Arabia but also in Oman, UAE, Jordan, Morocco, Turkey, South Africa and Bulgaria. (CONTINUED - 957 WORDS)