Global utility major Acwa Power has acquired the entire 32% stake of Saudi PIF company Badeel in Shuaibah Water and Electricity Company (developer of Shuaibah IWPP). With this move, Acwa Power has now become the majority stake holder in the Shuaibah company with 62% share.
Acwa Power, the world's largest private water desalination company, has announced that it has, along with its partners Badeel and Saudi Aramco Power Company (Sapco), achieved a $8.2 billion financial close for 15GW renewable energy projects in Saudi Arabia.
