July 09, 2018 — Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has acquired a 15.2 percent direct stake in ACWA Power, a producer and operator of power and water plants. PIF subsidiary Sanabil Direct Investment Company currently holds a 9.8 percent stake in ACWA Power, bringing PIF’s total shareholding to 25 percent. PIF’s investment into ACWA Power will be in the form of a capital increase. In February 2018, ACWA was awarded a 300MW solar project in Saudi Arabia by the country’s Renewable Energy Project Development Office.
You also might be interested in
On October 5th, the B20 released their final recommendations to[...]
The Capital Market Authority’s (CMA) Chairman, Mr. Mohammed El Kuwaiz,[...]
Saudi Arabia is among the world’s leading producers of petrochemicals.[...]