JEDDAH – ACWA Holding has announced the acquisition of the German manufacturer of mirrors for concentrated solar power (CSP) plants, Flabeg. The acquisition has been made through ACWA’s solar energy subsidiary SUN & LIFE.



Founded in 2002 as Arabian Company for Water and Power Development, ACWA Holding is owned by Al Muhaidib Group and Abdullah Abunayyan Group.



Flabeg Solar is a technology provider and manufacturing leader of solar mirrors used in all kinds of CSP and CPV power plants. Flabeg Solar’s mirrors have been installed in the majority of CSP plants around the world since the first SEGS plants in the US built in the 80s. Its products are known for their high precision, reflectivity and durability resulting in cutting edge quality.



The strategic acquisition will strengthen ACWA’s position in the CSP sector. After successfully being awarded the development of Morocco’s first CSP plant, Ouarzazate I, and the Bokpoort plant in South Africa, both parabolic trough plants, the Saudi company is including in its portfolio a key component for these plants, what will increase its competitivity for further tenders.



Flabeg’s recognized quality is the result of the unique process know-how, which was developed over 130 years of state-of-the-art glass bending and coating and, strong relationships with suppliers as well as a strong product and solutions engineering teams who helped advance the CSP solar technology.



Due to the high quality and unrivalled precision of its mirrors, Flabeg Solar successfully built a track record of almost 30 years and more than 40 CSP power plants equipped.



ACWA’s movement will position the company in the front row for the Saudi Energy diversification Plan proposed by KACARE, addressing 25 GW of CSP projects by 2030, with an estimated project value of SR250 billion ($66 billion).



Flabeg was facing some economic difficulties after the closure of its US factory due to a lack of orders in the country, as well as the slowdown of the Spanish market, the main driver of CSP market for the last five years.

“This acquisition marks a humongous move for Saudi Arabia into renewables; paving the way for a sustainable localization path.” Abdullah Taibah, CEO of SUN & LIFE.



“We are very happy that we have found a strategic investor with a vision to drive this technology to the right direction. The next step to fully industrialize this technology will help to get LCOE further down and take a significant share of renewable energy market in the future. The cost effective combination of CSP with large thermal energy storages provides dispatchable energy and will contribute a significant benefit for the energy grids of tomorrow.”  Holger Klimaschewski, CEO of Flabeg. — SG/Agencies