US$108million Nukus wind project signals ACWA Power’s expansion into the Uzbek energy industry Financial close for the project targeted for Q3 2022, with commercial operations expected by early 2024 Riyadh, KSA: 20 December 2021: ACWA Power, a leading Saudi developer, investor and operator of power generation, desalinated water and green hydrogen plants worldwide, today announced […]
ACWA Power signs cooperation agreement with Natixis Corporate & Investment Banking to finance new projects – EQ Mag Pro
Jeddah, KSA: ACWA Power, a leading developer, investor, and operator of power generation, desalinated water, and green hydrogen plants worldwide, and Natixis Corporate & Investment Banking (Natixis CIB), a subsidiary of Groupe BPCE, the second largest banking group in France, today signed a Memorandum of Understanding (MoU) stating their intention to collaborate on the advancement […]
Biggest Saudi IPO Since Aramco Sees ACWA Plan $1.2 Billion Offer – EQ Mag Pro
ACWA Power International, one of Saudi Arabia’s main vehicles for building renewable energy projects, is set to raise up to 4.55 billion riyals ($1.2 billion) in what would be the biggest offering in Riyadh since Saudi Aramco’s listing. The Riyadh-based utility, half-owned by the kingdom’s sovereign wealth fund, has set the price range for its […]
Saudi Arabia’s ACWA Power Unveils IPO Plan – EQ Mag Pro
Saudi Arabia-based International Company for Water and Power Projects, better known as ACWA Power, today announced its intention to carry out an initial public offering (IPO) to list its shares on the main market of the Saudi stock exchange Tadawul. The Saudi utility plans to issue a total of 85.34 million new ordinary shares, including […]
PIF-Backed ACWA Power to Seek Over $1 Billion in Saudi IPO – EQ Mag Pro
The listing could value the company at $10 billion or more. DUBAI: Saudi Arabia’s ACWA Power International is close to announcing its initial public offering, where it seeks to raise more than $1 billion. The announcement could be made “as soon as this week,” unnamed sources told Bloomberg, and the listing could value the company […]
ACWA Power Inaugurates 300 MW Dubai Solar Project in UAE – EQ Mag Pro
Saudi Arabia-based multinational ACWA Power has inaugurated a 300MW unit of the planned 900MW Shuaa 3 PSC Solar Energy project in Dubai in the United Arab Emirates. The unit will produce enough electricity to power 270,000 residential households and avoid the emissions of 1,18 million tonnes of carbon emissions per year. Some bifacial solar panels […]
ACWA Power, Aramco Consortium Obtains $600 Mln Financing For Saudi Largest Solar Project: CNBC Arabia – EQ Mag Pro
Aramco has joined the deal by taking a 30% equity stake alongside ACWA Power and Badeel, a Public Investment Company. A Saudi man walks on a street past a field of solar panels at the King Abdulaziz city of Sciences and Technology, Al-Oyeynah Research Station. RIYADH : A consortium of ACWA Power, Saudi Aramco, and […]
ACWA Power Marks the Inauguration of 300 MW First Stage of Shuaa Energy 3 PSC – EQ Mag Pro
Inauguration marks another transformative moment in Dubai’s energy transition strategy Inauguration represents a significant milestone for the ACWA Power led consortium in the path towards full operational capacity at the Mohammed bin Rashid Al Maktoum Solar Park USD 570 million project awarded at a world-record tariff of US 1.6953 cents per kWh last year Dubai, […]
ACWA Power announces financial close on 1500MW Sudair solar plant
Saudi energy company ACWA Power has announced the financial close for the 1500MW Sudair solar plant, a key project under the Public Investment Fund (PIF) renewable energy programme. With an investment value of SAR 3.4 billion ($906 million), the solar PV project, which is located at Sudair Industrial City, is set to become one of […]
Saudi Arabian Solar: How the State Has Invested in Overseas Solar Projects
ACWA Power has invested in some of the world’s largest solar projects, including the Redstone facility and the Kom Ombo plant. On paper, Saudi Arabia has some of the greatest potential for solar power facilities, with a favourable climate and sweeping areas of flat land that could maximise the production of solar panels. However, solar […]