International Finance Corp (IFC), a unit of the World Bank, said it will invest up to $100 million in Saudi Arabia-based water and power project developer ACWA Power to boost its funding for renewable energy schemes.
Saudi-based Acwa Power has entered into an agreement with Sumitomo Global Management Corporation, a subsidiary of Sumitomo Corporation, to acquire its 20 per cent stake in a UAE project.
Acwa will buy the stake in Shuweihat CMS In
Saudi Arabia's Acwa Power is pressing ahead with plans for a stock market listing and expects to invest over $3 billion in solar plants over the next five years, its chief executive said.
Paddy Padmanathan told Reuters that Ac
Saudi-owned ACWA Power said it has started work on the largest independent power generation project in the world at Qurayyah on the eastern coast of the Kingdom.
The project, to be developed on a BOO (build, own, operate) basis, will be lo
Saudi Arabia's water and power project developer Acwa Power has signed an increase to its debut corporate facility, taking the final amount to the $300 million target, a statement from the company said on Sunday.
JPMorgan Chase and Malayan
Acwa Power International, a leading water desalination and power generation company in Saudi, said it has acquired a 65 per cent controlling stake in Jordan-based Enara Energy Investments.
In addition to this, Acwa Power also ann
Jordan Dubai Capital (JD Capital) has sold its 51 per cent stake in the Central Electricity Generating Company (CEGCO), to Saudi firm ACWA Power for $144 million.
ACWA Power is a major owner and operator of privately financed bulk water de
AES Oasis said on Sunday it has entered into an agreement to sell off its interests in Oman's Barka power plant as well as associated technical service companies to Saudi-based ACWA Power International.
The company, a joint v