شركة سينرجي للاستشارات, is honored and delighted to support the Saudi Water Partnership Company (SWPC) as the Lead and Financial Advisor for the transaction in the project Jubail 3A IWP, Saudi Arabia.
The “Desalination Project of the Year” Award 2024 was presented at the Global Water Summit on 15th April 2024 in London.
Synergy Consulting acted as Lead and Financial Advisor to SWPC for Jubail 3A IWP Project (600,000 m3/ day RO plant with 1 day production storage) that achieved Financial Close in Dec 2020. The Project Agreements were signed by SWPC with comprising ACWA Power, Gulf Investment Corporation & Al Bawani Water & Power Company in May 2020. Project achieved commercial operations date in Q2 2023.
The project is one of the largest Seawater Reverse Osmosis plants in the world had achieved the lowest tariffs (for projects which had achieved financial close till 2020) in the region. This achievement marked the milestone for SWPC. The project is first of its kind in the Kingdom due to its integration with photovoltaic (PV) solar power. It encompasses a 45.5 MW solar PV power generation facility, which will account for 20% of the plant’s energy consumption and will deliver clean water to over 3 million people at a record-breaking tariff of 0.41 USD/m3, using reverse osmosis technology. The plant’s utilisation of advanced PV and RO technologies will reduce carbon emissions by 60,000 tons/year supporting social and economic advancement in line with Saudi Vision 2030.
The transaction highlights successful completion of announcement of preferred bidder, negotiations on the project documents & achievement of Financial Close.
Synergy provided the following services as part of mandate:
· Supported SWPC for all internal approvals to release the RFP package
· Managed coordination with legal and technical advisors throughout the bid process, including release of clarification to bidders;
· Undertook bid evaluation from a commercial perspective & assisted other advisors on valuation of legal and technical aspects of bid submissions;
· Assisted in the selection of the preferred bidder and negotiation with the preferred bidder on all aspects of the Project;
· Supported SWPC in finalization of Project Agreements & in meeting its condition precedents under Project Agreements;
· Coordinated with SWPC to support the developer to achieve the financial close of the project
· Prepared and submitted a Project Delivery report covering all learnings during the transaction to SWPC
Synergy is honored to be associated with SWPC for Jubail 3B IWP & for other marquee privatization programs such as ISWR and IWTP, being part of the Kingdom’s PPP program for Water Sector & Saudi Arabia Vision 2030.
Synergy thanks the Global Water Summit for recognition & all stakeholders, clients, financial & private partners, and govt. institutions for their support & trust in making Synergy the Partner of Choice.
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