KUALA LUMPUR (Sept 28): Saudi Arabia-based power plant player ACWA Power International has denied a recent media report that it had submitted its final offer for 1Malaysia Development Bhd (1MDB)'s power plants.
In a statement yesterday, ACWA expressed its interest in participating in a transparent process for the transaction, but confirmed that it was not invited by 1MDB to make any final offer.
"To the best of [our] knowledge, ACWA Power was not invited by 1MDB to make any final offer, nor are we on a shortlist of bidders for the same," said ACWA in its statement.
ACWA Power is a developer, investor, co-owner and operator of a portfolio of power generation and desalinated water production plants currently with a presence in 12 countries in the Middle East and North Africa, Southern Africa and South East Asia region.
The group's portfolio, with an investment value in excess of US$26 billion, can generate 16.9GW of power and produce 2.5 million m3/day of desalinated water to be delivered on a bulk basis to state utilities and industrial majors on long-term off-take contracts under Public-Private-Partnership, Concession and Utility Services Outsourcing models.