Saudi Arabia's PIF and ACWA Power Collaborate on Energy and Water Infrastructure
The agreement aims to enhance sustainable facilities and expand utility projects within PIF’s local real estate portfolio.
Riyadh, Saudi Arabia: The Public Investment Fund (PIF) of Saudi Arabia and ACWA Power have entered into a memorandum of understanding (MoU) to explore opportunities for developing energy and water infrastructure projects.
This collaboration is intended to strengthen the partnership between PIF and ACWA Power, focusing on the creation of more sustainable and resilient facilities.The agreement was signed during the ninth Future Investment Initiative, with the aim of facilitating cooperation on various utility projects that cater to the energy and water needs of PIF’s local real estate portfolio.
This MoU enables the expansion of high-quality infrastructure and utility projects within PIF's real estate assets while promoting increased local content and boosting private sector investment in infrastructure projects.The non-binding agreement was witnessed by key figures, including Saad Al-Kroud, head of local real estate investments at PIF, Mohammed Abunayyan, founder and chairman of ACWA Power, Sahm Nasser, general manager of PIF’s local real estate investment strategy, and Khaled Al-Medbel, head of business development for Saudi Arabia at ACWA Power.The PIF remains committed to achieving strategic objectives, generating positive local economic impact, and ensuring sustainable returns.
As a sovereign wealth fund, PIF plays a crucial role in facilitating new sectors and opportunities that shape the global economy and drive the economic transformation of Saudi Arabia.This MoU is part of PIF's strategic initiatives to strengthen partnerships with developers and private investors across its infrastructure assets.
It aligns with PIF’s support for clean energy, renewable energy, and water projects — sectors of priority for the fund.PIF's strategy in real estate and infrastructure contributes to diversifying and strengthening the local economy, promoting urban innovation, and improving quality of life, in line with Saudi Vision 2030.The PIF is leading the development of major transformative projects and prominent real estate initiatives across the Kingdom.
This collaboration between PIF and ACWA Power demonstrates a significant step towards achieving these strategic objectives.
This collaboration is intended to strengthen the partnership between PIF and ACWA Power, focusing on the creation of more sustainable and resilient facilities.The agreement was signed during the ninth Future Investment Initiative, with the aim of facilitating cooperation on various utility projects that cater to the energy and water needs of PIF’s local real estate portfolio.
This MoU enables the expansion of high-quality infrastructure and utility projects within PIF's real estate assets while promoting increased local content and boosting private sector investment in infrastructure projects.The non-binding agreement was witnessed by key figures, including Saad Al-Kroud, head of local real estate investments at PIF, Mohammed Abunayyan, founder and chairman of ACWA Power, Sahm Nasser, general manager of PIF’s local real estate investment strategy, and Khaled Al-Medbel, head of business development for Saudi Arabia at ACWA Power.The PIF remains committed to achieving strategic objectives, generating positive local economic impact, and ensuring sustainable returns.
As a sovereign wealth fund, PIF plays a crucial role in facilitating new sectors and opportunities that shape the global economy and drive the economic transformation of Saudi Arabia.This MoU is part of PIF's strategic initiatives to strengthen partnerships with developers and private investors across its infrastructure assets.
It aligns with PIF’s support for clean energy, renewable energy, and water projects — sectors of priority for the fund.PIF's strategy in real estate and infrastructure contributes to diversifying and strengthening the local economy, promoting urban innovation, and improving quality of life, in line with Saudi Vision 2030.The PIF is leading the development of major transformative projects and prominent real estate initiatives across the Kingdom.
This collaboration between PIF and ACWA Power demonstrates a significant step towards achieving these strategic objectives.