Saudi Arabia’s ACWA Power to Raise $1.9 Billion for Expansion 🇸🇦

ACWA Power plans to raise SR7.13 billion ($1.89 billion) to support its ambitious growth strategy. The capital increase, facilitated through right issues, aims to triple the company’s assets by 2030. This move aligns with ACWA Power’s mission to provide sustainable electricity and desalinated water. The company expects its annual equity commitment to rise significantly, reflecting its expansion goals. In April, ACWA Power partnered with the International Renewable Energy Agency to boost global clean energy adoption, focusing on renewable infrastructure, green hydrogen, and smart grids. This collaboration underscores ACWA Power’s commitment to advancing sustainable social and economic development. The capital increase will help maintain financial stability while supporting the company’s growth trajectory. This strategic move positions ACWA Power to play a pivotal role in the global transition to clean energy, reinforcing its leadership in the renewable energy sector and its commitment to sustainable development.