Saudi Arabia’s ACWA Power Co. is set to build two large-scale solar plants in Turkey, with a deal expected to be finalized within days. This initiative marks a significant step in ACWA’s plan to invest billions of dollars in the Turkish energy sector. According to Turkish Energy Minister Alparslan Bayraktar, the contract will involve the...
Saudi Arabia’s ACWA Power Co. is set to build two large-scale solar plants in Turkey, marking a significant step in its plan to invest $5 billion in the country’s energy sector. The deal is expected to be finalized in the coming days. Turkish Energy Minister Alparslan Bayraktar announced that ACWA and Turkish officials are in...
Saudi Arabia-based utility developer ACWA Power is making significant strides in Uzbekistan’s green energy market. Since its initial investment in 2020, which included a 1 500-MW plant in the historic Silk Road city of Bukhara, the company has committed over $15 billion towards various projects across the country. ACWA Power plans to invest an additional...
Saudi Arabia’s ACWA Power announced on May 29 that it has signed a preliminary agreement to develop up to 12.5 gigawatts of renewable energy generating capacity in Malaysia. The initial investment for this project is set to reach up to $10 billion. The renewable energy utility confirmed in a statement that it has entered into...
The Gulf Cooperation Council Interconnection Authority (GCCIA) has announced plans to invest up to $1.3 billion in network expansion between 2025 and 2027. This significant investment is expected to impact the authority’s credit metrics, as all projects will be financed through debt, according to S&P Global Ratings. S&P Global Ratings anticipates that GCCIA will invest...
Saudi Arabia’s integrated utility company, ACWA Power, has signed a share purchase agreement (SPA) with the regional subsidiary of French utility developer ENGIE to acquire assets valued at $693 million. This acquisition marks ACWA Power’s entry into the Kuwaiti market. The deal includes significant operating capacities, comprising 4.61 gigawatts (GW) of gas-fired power generation and...