2020 CW Power 100: ACWA Power's Paddy Padmanathan at 46
During the past 12 months, ACWA Power has inked a number of important deals on key projects
With more than 35 years of experience in the industry, and more than 14 years as chief executive officer of ACWA Power, Paddy Padmanathan has helped the Saudi Arabia-based developer, owner, and operator of power generation and water desalination plants retain a spot in Construction Week’s Power 100 ranking for 2020.
During the past 12 months, ACWA Power – which is backed by Saudi Arabia’s sovereign Public Investment Fund (PIF) – has inked a number of important deals on key projects.
In May 2020, a consortium of ACWA Power signed a 25-year power purchase agreement (PPA) with Dubai Electricity and Water Authority (DEWA) to build and operate the 900MW Phase 5 of the Mohammed bin Rashid Al Maktoum Solar Park (MBR Solar Park).
ACWA Power – as part of a consortium also comprising Gulf Investment Corporation (GIC), and Al Bawani Water & Power Company – also inked a 25-year water purchase agreement with the Saudi Water Partnership Company (SWPC) after being chosen as the preferred bidder for the Jubail 3A Independent Water Plant (IWP).
In addition, ACWA Power has inked a deal with THABAT to build a 100-bed integrated mobile hospital in line with the kingdom’s efforts to combat COVID-19.
To view the full 2020 Construction Week Power 100 ranking, click here.