Articles > ACWA Power Secures $700 Million Power Project in Mauritania
ACWA Power Secures $700 Million Power Project in Mauritania
By KlickAnalytics Data Insights | July 1, 2026 03:11AM ET
- ACWA Power enters into a long-term partnership and power purchase agreement for the N’diago power project in Mauritania
- The project involves the development of a 230 MW Combined Cycle Gas Turbine (CCGT) plant
- ACWA Power holds a 60% effective stake in the venture through its subsidiary, N’diago Energy Company
In a major strategic move, ACWA Power, a prominent Saudi developer and operator of power generation and water desalination plants, has signed a long-term public-private partnership (PPP) and power purchase agreement for the N’diago power project in Mauritania. The $700 million project entails the establishment of a 230 MW Combined Cycle Gas Turbine (CCGT) plant, expanding ACWA Power’s footprint in the West African energy sector. The agreement, facilitated by Acwa’s subsidiary, N’diago Energy Company, includes a PPP agreement with the Government of Mauritania and a Gas-to-Power (CCE) conversion agreement with the Mauritanian Electricity Company (SOMELEC).
Under the contract, ACWA Power will handle the design, financing, construction, operation, and maintenance of the N’diago CCGT facility utilizing combined cycle technology to enhance fuel efficiency and stabilize power supply in Mauritania. The project operates under a 25-year government payment scheme within the PPP framework, ensuring sustained revenue for the project company. Additionally, a 25-year Gas-to-Power agreement with SOMELEC forms a tolling arrangement where the utility provider supplies fuel while ACWA Power manages the electricity generation process. The company clarified that the financial impact of the project will be disclosed after financial close and emphasized the absence of related parties in the transaction, highlighting the impartial nature of negotiations with the Mauritanian government and SOMELEC.
ACWA Power's financial statements showed a 19.28% annual decline with net profits reaching SAR 344.75 million at the end of March 2026, down from SAR 427.15 million. The company awaits further developments following the agreement's execution, poised to reinforce its presence in the dynamic energy landscape of West Africa.
- The project involves the development of a 230 MW Combined Cycle Gas Turbine (CCGT) plant
- ACWA Power holds a 60% effective stake in the venture through its subsidiary, N’diago Energy Company
In a major strategic move, ACWA Power, a prominent Saudi developer and operator of power generation and water desalination plants, has signed a long-term public-private partnership (PPP) and power purchase agreement for the N’diago power project in Mauritania. The $700 million project entails the establishment of a 230 MW Combined Cycle Gas Turbine (CCGT) plant, expanding ACWA Power’s footprint in the West African energy sector. The agreement, facilitated by Acwa’s subsidiary, N’diago Energy Company, includes a PPP agreement with the Government of Mauritania and a Gas-to-Power (CCE) conversion agreement with the Mauritanian Electricity Company (SOMELEC).
Under the contract, ACWA Power will handle the design, financing, construction, operation, and maintenance of the N’diago CCGT facility utilizing combined cycle technology to enhance fuel efficiency and stabilize power supply in Mauritania. The project operates under a 25-year government payment scheme within the PPP framework, ensuring sustained revenue for the project company. Additionally, a 25-year Gas-to-Power agreement with SOMELEC forms a tolling arrangement where the utility provider supplies fuel while ACWA Power manages the electricity generation process. The company clarified that the financial impact of the project will be disclosed after financial close and emphasized the absence of related parties in the transaction, highlighting the impartial nature of negotiations with the Mauritanian government and SOMELEC.
ACWA Power's financial statements showed a 19.28% annual decline with net profits reaching SAR 344.75 million at the end of March 2026, down from SAR 427.15 million. The company awaits further developments following the agreement's execution, poised to reinforce its presence in the dynamic energy landscape of West Africa.
Disclaimer: the above is a summary showing certain market information. KlickAnalytics is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from various resources and more. Communications displaying market prices, data and other information available in this post are meant for purely for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.