KSA-based ACWA Power has completed its acquisition of French energy major Engie’s stakes in gas-fired power generation and water desalination assets in Bahrain, along with the related operations and maintenance (O&M) companies.

The Bahrain portfolio consists equity of stakes in Al Ezzel IPP (45 per cent), Al Dur IWPP (45 per cent), Al Hidd IWPP (30 per cent) and 100 per cent ownership of Al Ezzel O&M, which will contribute to providing in-house O&M services across these assets.

The wider acquisition also covers impending Engie’s assets in Kuwait, which include equity stake in Az Zour North IWPP (17.5 per cent) and 50 per cent ownership in Az Zour North O&M.

Together, the Bahrain and Kuwait portfolios represent a combined capacity of 4.6 GW of gas-fired power generation and 1.1 million cu m/day of water desalination, for a total consideration of $693 million (before customary purchase price adjustments).