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Taqa consortium secures desalination project in Makkah: The Saudi Water Partnership Company (SWPC) has tapped a regional consortium led by Abu Dhabi’s National Energy Company Taqa to develop the SAR 1.5 bn Juranah Independent Strategic Water Reservoir Project (ISWR-1) under a build, own, operate, transfer (BOOT) agreement, according to a joint statement. The consortium — which includes KSA’s Vision International Investment Company (Vision Invest) and the Gulf Investment Corporation (GIC) — will have full ownership of the project for 30 years, before transferring it back to SWPC.
The details: The strategic tanks are expected to have a total storage capacity of 2 mn m3 and operational tanks with a capacity of 500k m3 and supporting solar energy units to reduce electricity consumption. It is unclear the generation capacity of the solar energy units, the statement notes.. Around 80% of the funding is expected to be financed through debt and operations are expected to start in 2Q 2027.
Who will be doing what: Taqa will be quarterbacking the project by leading operations and maintenance through a separate O&M company that is equally co-owned by Vision Invest. The Abu Dhabi utility company will have a 35% stake in the project as a whole. The statement did not reveal how the balance will be divided among the consortium’s other members.
Following in Acwa’s footsteps? KSA’s Acwa Power — the world’s largest water project developer outside China — was tapped by the Dubai Electricity and Water Authority (Dewa) to construct and operate a solar-powered desalination project in Hassyan in August. Acwa also signed financing and security agreements for the USD 821 mn Shuaibah 3 and the USD 678 mn Rabigh 4 desalination projects earlier last year.
