ACWA Power sets up company for Caspian Sea desalination project

A project company, Caspian Sea Azerbaijan Project Co., has been established under a public-private partnership between Saudi Arabia's ACWA Power and Azerbaijan's State Agency for Water Resources (ADSEA) for the construction of a Caspian Sea desalination plant, Report informs, citing ACWA Power.

ACWA Power will own 100 percent of the shares in the project company. The project envisions the construction of a seawater desalination plant with a capacity of 300,000 cubic meters per day in the Sumgayit Industrial Park. It will be implemented by a consortium comprising ACWA Power and Türkiye's IC İçtaş İnşaat.

The total cost of the project is estimated at $407 million. Under the terms of the agreement, the project will have a duration of 27.5 years, after which the facility will be transferred to ADSEA. Construction is scheduled to be completed within 2.5 years.

The agreement covers the full project cycle, including design, engineering, construction, financing, ownership, operation, and maintenance. Full commissioning of the plant is planned for the fourth quarter of 2028.