On July 1, 2026, a statement from the Saudi Arabian Exchange shook the global energy industry. Saudi international power and water company ACWA Power announced that its subsidiary has officially signed two major agreements worth a total of $700 million with the Mauritanian government. This is not only a commercial contract, but also a declaration of Saudi capital's entry into the West African continent. A 230 MW combined cycle gas power plant is about to be built on the African continent.

260 million riyals in Luozi Maota

This signing adopts an indivisible package contract model. According to the public-private partnership agreement, ACWA Power will hold a 60% stake in the project company and engage in a 25 year deep cooperation with the Mauritanian government. The project will fully adopt combined cycle gas turbine technology, covering the entire lifecycle management from design, financing to construction and operation. This 25 year power purchase agreement provides a long-term stable cash flow guarantee for Saudi Arabia's energy export strategy.

Borrowing on-site energy from GTA gas field

The strategic location of the power station is highly significant, located in the city of Ndiago in the Traza Province of Mauritania. The biggest highlight of the project is that its fuel source will directly use natural gas from the GTA gas field located at the offshore border between Mauritania and Senegal. This locally sourced model not only significantly reduces fuel transportation costs, but also promotes the on-site conversion of oil and gas resources along the West African coast, effectively alleviating the long-standing shortage of electricity supply in the area. Keywords: Construction News、New energy news

Saudi Arabia's globalization layout accelerates

For ACWA Power, this is another crucial milestone on its global map, following the Middle East, Central Asia, and Southeast Asia. Despite fluctuations in the company's net profit due to short-term factors in the first quarter of 2026, its total managed assets have reached 455 billion Saudi riyals. The success of the first battle in West Africa marks that Saudi public investment funds are accelerating the construction of energy infrastructure in countries along the the Belt and Road through industry leaders, and reshaping the global clean energy landscape.Editor/Gao Xue