ACWA Power starts commercial ops at phase 2 of Dubai’s Noor Energy
19/11/2023
Argaam
Logo of ACWA Power Co.
ACWA Power Co. said it received, on Nov. 17, the initial commercial operation certificate from the Dubai Electricity & Water Authority (DEWA) for phase 2 of concentrated solar power (CSP) Parabolic Trough (PT) 200 megawatts (MW) unit of Noor Energy 1, taking total capacity under operation to 717 MW.
The second phase is part of a 950 MW solar CSP independent power project, the company said in a statement on Tadawul.
The financial impact from the full capacity (950 MW) is expected to show starting Q1 2024 financial results onwards.
The project is part of Phase IV of the MBR Solar Park in Dubai, UAE. ACWA Power owns a 25% stake in Noor Energy 1.
Market Indices
Dubai
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ACWA
182.60
(2.50)
(1.35%)
DEWA
2.75
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