Noor 3 Concentrated Solar Power will be offline until November 2024 after ACWA Power announced a leak in its molten salt tank.
The company received notification of the leak on March 21, 2024.
According to a statement released by ACWA Power to the Saudi Stock Exchange (Tadawul), initial assessments indicate the plant will be offline until November 2024. This extended outage is expected to result in significant financial losses for the company.
ACWA Power said it’s actively evaluating solutions to address the leak and said stakeholders will provide further updates on the situation as they become available.
This extended outage is expected to result in significant financial losses for the company, with preliminary estimates suggesting a revenue loss of $47 million. ACWA Power holds a 75% stake in the project company.
The 150-megawatt (MW) Noor Ouarzazate III project was built for $862 million and became operational in the fourth quarter of 2018, according to the ACWA Power website.
The greenfield IPP (Independent Power Producer) was constructed under a turnkey Engineering Procurement Construction (EPC) contract by a consortium led by SENER Ingeneria Sistemas (Spain) and including SEPCO III Electric Power Construction Corporation (China) and Power China (China).
This is not the first time the plant has faced challenges. A Reuters report in 2024, citing sources, indicated that technical problems had stopped all output at the plant for a year from summer 2021.
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