PIF-owned ACWA Power signs deal to integrate new technology in desalination

RIYADH: The Public Investment Fund-owned ACWA Power on Monday signed an industrial development agreement with Water Global Access, a research and technology development firm, to integrate hydraulic injection desalination, HID, technology at scale. Supplied
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Updated 12 September 2022
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PIF-owned ACWA Power signs deal to integrate new technology in desalination

RIYADH: The Public Investment Fund-owned ACWA Power on Monday signed an industrial development agreement with Water Global Access, a research and technology development firm, to integrate hydraulic injection desalination, HID, technology at scale. 

The deal was signed on the sidelines of the Future of Desalination International Conference in Riyadh.

The agreement comes six months after both companies signed a collaboration agreement to develop a roadmap for HID across ACWA Power’s projects, said a press release. 

The agreement will involve the implementation of a pilot project that includes HID in the Gulf Cooperation Council region, following research that has demonstrated that the technology has the potential to break the 2 kWhr barrier of energy consumption to produce 1 cubic meter of water from seawater. 

“With continued industrialization and demographic growth, water consumption across the world continues to rise at a rapid rate requiring urgent solutions. The potential emanating from water production utilizing cost effective, low carbon-intensive technologies is truly exponential and we are proud to pilot the ground-breaking HID technology, which is going to be a giant step forward in revolutionizing the desalination industry,” said Paddy Padmanathan, vice chairman and CEO of ACWA Power. 

Energy consumption in desalination plants is also referred to as the total specific energy consumption.

“With its low energy footprint, HID technology has the potential to lower operational costs for our desalination business, which we hope will lead to lower tariffs in the long term. For governments, this means that it is more affordable to produce water. For investors, this could mean higher profits per facility. And for communities, it means that they are getting usable water with the least impact on the environment.” he added

“Technical readiness tests confirm that the capacity of HID to break the 2kWh/m3 seawater desalination threshold, opening a new paradigm in the industry’s efficiency levels,” WGA CEO Eusebi Nomen.

“We also welcome ACWA Power’s commitment in this technology, which further cements their position as a global leader in high impact water innovation,” he added.


Saudi finance ministry, IMF to launch AlUla conference for emerging market economies

Updated 07 February 2026
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Saudi finance ministry, IMF to launch AlUla conference for emerging market economies

RIYADH: The Saudi Ministry of Finance and the International Monetary Fund (IMF) will launch on Sunday the second edition of the annual AlUla Conference for Emerging Market Economies. 

Launched first in 2025, the conference this year brings together economic decision-makers, finance ministers, central bank governors, leaders of international financial institutions, and a select group of experts and specialists from around the world.

The conference, which will be held on Feb. 8 and 9, is going to highlight the rapid transformations occurring in the global economy and the challenges and opportunities they present for emerging market economies, particularly in the areas of international trade, monetary and financial systems, and macroeconomic policies.