ACWA Power strategic objectives for 2015-2016

Paddy Padmanathan, President and CEO of ACWA Power talks about the strategic objectives for ACWA Power, for the year 2015-16.

He says, “For us 2015 and 2016 are going to be very busy years. We are a startup, but now we are into our 11th year. Like many startups we have grown on a “s” curve growth model. We are now in the acceleration phase. We are doing more, we are operating in a much wider geographical area. We have operations in a dozen countries. Consequently, we are doing a lot more today.

In 2014 we tendered many projects. Our record is, we submitted 11 tenders between 2013 and 2014, losing only 1 bid. So we enter 2015 with 10 new projects on hand. We are in various stages of finalizing power purchase contracts, some are finalized and we are getting into construction, some are in the financing stage. All this activity will happen in 2015. As we near the end of 2015, we expect to see nearly a dozen projects in construction. It’s an all-time high for us. We’ve never had more than 4 projects in parallel construction before. We also have a backlog of tenders in preparation, which will be submitted in 2015. These will become works in progress in 2016. So we are moving into a very busy period.”