ACWA Power Raises $1.9 Billion to Boost Growth
ACWA Power, a leading Saudi utility company, will increase its capital by one dollar 1.89 billion to triple its assets by 2030. In April, the company partnered with the International Renewable Energy Agency to boost global clean energy infrastructure and skills. CEO Marco Arcelli calls this partnership a pivotal step towards sustainable energy.
ACWA Power, a leading Saudi utility company, is set to increase its capital by SR7.13 billion (one dollar 1.89 billion) in an effort to triple its assets under management by 2030.
This capital raise, through right issues as announced on Tadawul, aims to support ACWA Power’s ambitious growth while maintaining financial stability.
The company’s mission is to provide reliable, cost-effective electricity and desalinated water, driving sustainable development.
Between 2024 and 2030, ACWA Power expects its annual equity commitment to rise from one dollar 1 billion - 1.3 billion to one dollar 2 billion - 2.5 billion.
In April, ACWA Power partnered with the International Renewable Energy Agency (IRENA) to promote global clean energy adoption.
This collaboration focuses on renewable energy infrastructure, green hydrogen, solar resources, smart grids, and the energy-water nexus.
The partnership also aims to mobilize finance for sustainable energy projects and enhance skills through workshops and seminars, targeted at professionals and the public.
ACWA Power CEO Marco Arcelli highlighted the significance of this partnership as a key step towards a sustainable energy future.
This capital raise, through right issues as announced on Tadawul, aims to support ACWA Power’s ambitious growth while maintaining financial stability.
The company’s mission is to provide reliable, cost-effective electricity and desalinated water, driving sustainable development.
Between 2024 and 2030, ACWA Power expects its annual equity commitment to rise from one dollar 1 billion - 1.3 billion to one dollar 2 billion - 2.5 billion.
In April, ACWA Power partnered with the International Renewable Energy Agency (IRENA) to promote global clean energy adoption.
This collaboration focuses on renewable energy infrastructure, green hydrogen, solar resources, smart grids, and the energy-water nexus.
The partnership also aims to mobilize finance for sustainable energy projects and enhance skills through workshops and seminars, targeted at professionals and the public.
ACWA Power CEO Marco Arcelli highlighted the significance of this partnership as a key step towards a sustainable energy future.
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