2024 highlights – key events
8 February
Sukuk issue wins Local Currency Bond Deal of the Year award
4 April
First Renminbi (RMB) loan from Bank of China to finance an Uzbekistan solar project
18 April
Partnership with IRENA to spearhead global renewable energy transformation
22 April
Partnership with SOCAR to Drive Renewable Energy Development in Azerbaijan
31 May
MoU with Tunisian government for major green hydrogen project
4 June
Divestment of 30% stake to Hassana Investment Company in RAWEC IWSPP
6 June
Agreement with Japan’s Itochu Corporation to explore joint development & offtaking of green ammonia from ACWA Power's Egypt Project
27 June
Signed 5,500 MW power purchase agreements for the Haden, Muwayh and Al Khushaybi projects in KSA (PIF4).
1 July
Finance agreements for USD 533 million Tashkent Riverside project, including a 500 MWh Battery Energy Storage System (BESS), in Uzbekistan
17 July
China Southern Power Grid to become a co‑investor in ACWA Power's USD 1.3 billion Bash and Dzhankeldy wind‑power projects in Uzbekistan
14 August
Power Purchase Agreement (PPA) for a floating solar PV project in Indonesia
20 August
Groundbreaking for the 200 MW Beruniy wind‑power plant and 100 MWh BESS project in Karakalpakstan, Uzbekistan
26 August
ACWA Power's subsidiary NOMAC agreed to equip the National Institute of Metrology laboratory in Uzbekistan
4 September
Agreement with Sharjah Electricity, Water and Gas Authority (SEWA) to develop a 410,000 m3/day IWP
30 September
Agreement with Japan's Sumitomo Corporation to develop Uzbekistan’s largest renewable energy projects
9 October
Agreement with Asian Infrastructure Investment Bank Partner to finance Kungrad wind projects in Uzbekistan
27 October
Redstone Concentrated Solar Power (CSP) plan in South Africa reached 50 MW capacity (of a total 100MW)
29 October
Agreements worth USD 1.78 billion announced at the Future Investment Initiative (FII8) in Riyadh
3 November
Financial close for the Nukus 1 Wind project in Uzbekistan
13 November
USD 238 million aggregate financial closing for Absheron‑Khizi wind farm in Azerbaijan
17 November
Agreement with the Uzbek Ministry of Energy for 2 GWh of standalone BESS capacity
17 November
MoU with SOCAR Green and Masdar to explore the development of 3.5 GW of offshore wind projects in Azerbaijan
19 November
Power Purchase Agreement (PPA) with Saudi Power Procurement Company for the Rumah 1 and Nairiyah 1 power generation projects with combined capacity of 3.6 GW at a total investment cost of 1 15 billion
12 December
At COP16, ACWA Power launched initiatives supporting coral conservation and providing water to over 1,500 Wadi Hajar households, in collaboration with the Sekaya Charitable Foundation
30 December
ACWA Power Co. announces the successful entry to the People’s Republic of China market by securing over 1 GW of renewable energy projects in collaboration with leading Chinese renewable partners
Some of the awards ACWA Power won
Best HR Transformation
Future Workplace Awards
In‑house Team of the Year
IFLR Awards
Best Capital Financing
PIF Partners' Forum Awards
Change Management Strategy
Future Workplace Awards
Best Employer Brand
Employer Brand Awards GCC
Excellence in Desalination Technology – UAE 2024
Global Brands Awards