Mauritania's first large-scale independent gas-fired power generation project

Riyadh, Saudi Arabia: ACWA Power, the world’s largest privately owned desalination company, a leader in energy transition, and a pioneer in large-scale green hydrogen projects, announced two Public-Private Partnership (PPP) and Power Purchase Agreements (PPAs) for the development, financing, construction, and operation of the 230 MW Ndiago combined-cycle gas turbine (CCGT) power plant in Mauritania. The agreements were signed in Nouakchott in the presence of senior officials from the Government of the Islamic Republic of Mauritania, along with Mohamed Abouniann, Chairman of ACWA Power.

The signing of the two agreements marks the official launch of Mauritania’s first large-scale independent gas-fired power plant, paving the way for private sector participation in the country’s electricity sector. The plant will provide a base generating capacity of 230 MW using highly efficient combined cycle (CCGT) technology, integrating Mauritania’s domestic natural gas resources into the national grid. This will enhance the reliability of electricity supply and reduce fuel intensity compared to conventional thermal power plants.

The project will help meet Mauritania’s growing electricity demand, enhance grid stability, and support the country’s long-term energy security and energy transition goals. It also strengthens ACWA Power’s expanding presence in Africa, where the company is implementing integrated power, water, and renewable energy solutions across several promising and rapidly growing markets on the continent.

On this occasion, Hashem Ghabashi, Regional President for Africa at ACWA Power, stated

The signing of the Public-Private Partnership (PPP) and Power Purchase Agreements (PPAs) for the Ndiago project marks a pivotal moment in the development of Mauritania’s electricity sector and reflects the strength of the strategic partnership we are building with the Mauritanian government. Years of close collaboration have culminated in this achievement, which will leverage local gas resources to provide reliable and competitively priced electricity through the operation of a highly efficient 230 MW combined-cycle power plant (CCGT). This viable financing model not only strengthens the foundations for industrial growth and energy security in Mauritania but also opens up broader opportunities for private sector investment and reinforces ACWA Power’s presence in West Africa. This is the model that underpins our business: developing integrated projects that are executed efficiently and reliably, delivering sustainable value for all stakeholders.

ACWA Power is experiencing rapid growth, with a portfolio of 111 assets in operation, advanced development, or construction, valued at SAR 468.9 billion. The company's portfolio boasts a total installed capacity of 98 GW, including 52.3 GW from renewable energy sources, and manages 9.7 million cubic meters per day of desalinated water across 16 countries. The Ndiago project further strengthens ACWA Power's presence in Africa, underscoring its long-term commitment to supporting sustainable development and the transformation of the energy and water sectors in the Middle East, Africa, Central Asia, and Southeast Asia.

About Aqua Company

ACWA Power (trading symbol: 2082) is a Saudi Arabian company listed on the Saudi Stock Exchange (Tadawul). It is the world's largest privately owned desalination company and a pioneer in green hydrogen, as well as a key player in the global energy transition. Founded and registered in 2004 in Riyadh, Saudi Arabia, ACWA Power employs over 4,000 people and currently operates in 16 countries across the Middle East, Africa, Central Asia, and Southeast Asia. Its portfolio comprises 111 projects that are either operational, in advanced stages of development, or under construction, with a total investment value of SAR 468.9 billion (USD 125 billion). The company has a power generation capacity of up to 98 gigawatts (of which 52.3 gigawatts are from renewable energy sources), in addition to managing a desalination capacity of 9.7 million cubic meters per day. The power and water produced from ACWA Power's assets are supplied on a bulk basis to meet the needs of government entities, public utilities, and industrial sectors, under long-term purchase agreements within utility contract and public-private partnership models.

For more information, please visit the company's website via the link.

www.acwapower.com

For media communication

Hala Mohsen

Director of Media Affairs and External Communications

hmohsen@acwapower.com

media.inquiries@acwapower.com

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