ACWA consortium secures utilities deal for Saudi Arabia’s Red Sea Project

ACWA

November 18, 2020 – The Red Sea Development Company (TRSDC) has awarded a contract to a consortium led by ACWA Power to deliver all of the utilities for The Red Sea Project, a tourism destination being developed in Saudi Arabia.

 

Under the contract, which is procured as an independent public-private partnership (PPP), the consortium will be responsible for the design, construction and operation of the systems providing utilities along with the associated networks and infrastructure.

 

The deal includes the provision of renewable electricity, potable water, wastewater treatment, solid waste management and district cooling for the project’s first phase.

 

The initial phase of The Red Sea Project includes 16 hotels, an international airport and infrastructure.

 

The scope of work under the contract involves the installation of solar and wind capacity to meet an initial demand of 210MW, with an option to expand that in the future.

 

TRSDC said that the PPP deal estimated to produce nearly 650,000MWh of 100% renewable power to supply the destination and other utility systems while emitting zero CO2.

 

The project will also use what the company claimed to be the world’s largest battery storage facility of 1,000MWh to enable the destination to remain completely off-grid and to provide 24-hour renewable power.

 

Saudi and other international banks including the UK’s Standard Chartered Bank and China’s Silk Road Fund are funding the ACWA consortium.

 

TRSDC announced that the project will not invest its own capital but purchasing its utilities from the consortium for the next 25 years.

 

The Red Sea Project is a luxurious tourism destination which will be developed over 28,000km² of pristine land on the west coast of Saudi Arabia.

 

It will comprise an archipelago of more than 90 natural islands, mountain canyons, dormant volcanoes, and ancient cultural and heritage sites.

 

TRSDC said that the project expects to welcome its first guests by the end of 2022 when the international airport and the first four hotels will be opened.

Source:-https://www.worldconstructionnetwork.com/news/acwa-consortium-secures-utilities-deal-for-saudi-arabia-s-red-sea-project/

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