Shoaiba 3 IWPP, Saudi Arabia

What is it? An 880,000m3/d power and desalination plant in Saudi Arabia, using multi-stage flash (MSF) technology.

Who is responsible? A consortium of ACWA Power Projects, Tenaga Nasional Berhad, and Malakoff Berhad developed the plant. The EPC team was Siemens and Doosan Heavy Industries.

Why is it shortlisted?

• At 880,000m3/d, Shoaiba 3 is the biggest single desalination plant currently online anywhere in the world, and provides much-needed water for the cities of Jeddah, Makkah and Taif, an area which has been hit hard by a combination of water scarcity and rapid population growth.

• The $2.5 billion financing package followed a highly complex structure, comprising commercial, export credit agency and Islamic tranches, as well as an equity component.

• The deal was the first IWPP to be signed in Saudi Arabia, and marked the start of a bold new phase of procurement for power and desalination capacity in the Kingdom which shows no signs of abating.