Enterprise AM
Summary
The Red Sea destination’s utility system is now commercially operational, kicking off a 25-year concession for an Acwa Power-led consortium, according to a press release. The system, worth USD 1.84 bn, is billed as the world’s largest off-grid renewable utilities network and the first Saudi giga-project to bring its full utilities system online without a connection to the national grid.
What it does: Marafiq Red Sea for Energy, the project company Acwa formed with China’s SPIC Huanghe Hydropower and Saudi Tabreed, will provide power, water, wastewater, district cooling and waste management to Red Sea Global’s hotels, airport, logistics hub and community facilities.
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