Dubai Electricity and Water Authority (DEWA) and Saudi Arabia’s ACWA Power have finalized the financial agreement for the Hassyan Independent Water Producer (IWP) project, reports Zawya.
The project boasts a capacity of 180 million imperial gallons per day (MIGD), making it one of the largest sea water desalination ventures using Reverse Osmosis (RO) technology under the IWP framework.
Valued at 3.377 billion UAE dirhams (US$920 million) and with an anticipated completion slated for 2026, the project is part of Dubai’s ambitious strategy to produce 100 percent of its desalinated water by 2030 from a clean energy and waste heat mix.
Upon its operational debut, the project will significantly bolster the emirate’s water desalination capacity to an impressive 670 MIGD, said the Dubai-listed utility provider in a statement on Wednesday.
The comprehensive financing details and participating lenders remain undisclosed.
