ACWA Power, Saudi Arabia announces that its subsidiary, Barka Water and Power Company SAOG (BWPC) has received a letter of award from Nama Power and Water Procurement Company, Oman (PWP) for extending the Power and Water Purchase Agreement (PWPA).
BWPC is a subsidiary of ACWA POWER Co., registered in Sultanate of Oman and listed in the Muscat Stock Exchange.
The value of the contract is USD 356 million (SAR 1,335 million).
The award includes extending the operation of the Power plant for 8 years and 9 months term with operations starting from 1 June 2024 and the water plant for 3 years term starting from 1 September 2024 with extension option at PWP’s discretion for a further term of 3 years and another term of 2 years & 9 months (total 8 years and 9 months term). BWPC has accepted the award on 24 April 2024 and is currently working with PWP on the finalization and approval of the PWPA and other project agreements, statement mentioned.
