ACWA Power gets green light for 217-MW solar project in UAE

• Saudi Arabia's International Company for Water and also Power Projects (TADAWUL:2082), or ACWA Power, can begin work on the first 217-MW phase of the Noor Energy 1 solar project in Dubai after obtaining a certificate of industrial operation.

The economic impact of the project will certainly be revealed in the monetary report for the first quarter of 2022, ACWA Power claimed on Monday in a filing with the Saudi stock exchange.

The Riyadh-based firm has a 25% stake in the business Noor Energy 1 PSC which is executing the fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai. This phase integrates 700 MW of concentrated solar energy capacity as well as 250 MW photovoltaics as well as plays a major role in the decarbonisation approach of the emirate which seeks to get to 25% of tidy energy by 2030.