Acwa secures $700M Mauritania power project with 25-year PPA

Acwa Power signed 25-year agreements to develop a $700 million gas-fired power plant in Mauritania, the company said Thursday. The project, called N'Diago, will be built under a public-private partnership with the Mauritanian government and the state utility SOMELEC. Acwa holds a 60% stake in the project company.

The deal marks Acwa's first power project in Mauritania, adding to its African portfolio that already includes plants in South Africa, Morocco, and Egypt. The structure is a long-term power purchase agreement with a 25-year tenor, locking in revenue for the plant's output over that period.

The plant is a combined-cycle gas turbine design, which typically converts more fuel into electricity compared to simple-cycle units. No capacity figure was disclosed.

The signing removes a key uncertainty around the project, which had been in negotiation. The next milestones include project financing and construction timeline. Acwa did not say when work would start or give a completion target.