ACWA Power’s Barka secures contract extension for SAR 1.34B project in Oman

Logo of ACWA Power Co.

ACWA Power Co.’s subsidiary Barka Water and Power Co. SAOG (BWPC) received a letter of award from Oman’s Nama Power and Water Procurement Co. (PWP) for extending the power and water purchase agreement (PWPA).

In a statement to Tadawul, ACWA Power said that the project has a value of $356 million (SAR 1.33 billion), expecting the contract to be signed on May 27, 2024.

The award includes extending the operation of the power plant for eight years and nine months with operations starting from June 1, 2024. The water plant operations will be extended for a three-year term starting from Sept. 1, 2024 with extension option at PWP’s discretion for a further term of three years and another term of two years and nine months (totaling eight years and nine months).

BWPC accepted the award on April 24, 2024, and is currently working with PWP on the finalization and approval of the PWPA and other project agreements, the statement added.