ACWA Power Company (acwa) announces the signing of an Energy Conversion and Water Purchase Agreement

Element List	Explanation
Introduction	acwa led consortium signs an Energy Conversion and Water Purchase Agreement for Az-Zour North Phase 2 & 3 IWPP in Kuwait

Az Zour North 2&3 Project is a Combined Cycle Gas Turbine (CCGT) plant with a power capacity of 2,700 Megawatts (MW). Furthermore, the Project will comprise a desalination component that will utilize Seawater Reverse Osmosis (SWRO) technology to produce c. 545.5 thousand m3/day. Date of Announcement of the Award 2026-02-03 Corresponding to 1447-08-15 Contract Subject Matter ECWPA - Energy Conversion and Water Purchase Agreement The Entity with Which the Contract was Signed Ministry of Electricity and Water and Renewable Energy State of Kuwait (MEWRE) Date of Signing the Contract 2026-02-03 Corresponding to 1447-08-15 Contract Value Approximately USD 4.1 Billion Contract Details The Project will be developed on a Build, Operate and Transfer (BOT) basis under a 25-year Energy Conversion and Water Purchase Agreement (ECWPA) with Ministry of Electricity, Water and Renewable Energy “MEWRE” under which MEWRE will purchase the entire Power and Water Capacity of the Plant.

The ECWPA was signed between MEWRE and Gulf Alliance for Power and Water (K.S.C.P), which is owned by Kuwait Authority for Partnership Projects (“KAPP”), acwa, and Gulf Investment Corporation (“GIC”).

acwa’s effective share in the project is 24%. Contract Duration 25 years from Project Commercial Operation Date Financial Impact and the Relevant Period The financial impact of the contracted revenues will be shared at the time of Financial Close. Related Parties N/A

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