Saudi Arabia's Acwa Power plans a $1.9bn stock sale to existing shareholders, aiming to triple assets by 2030.
Saudi Arabia's Acwa Power plans a $1.9bn stock sale to existing shareholders, leveraging its share price sixfold increase since 2021. The funds aim to triple assets by 2030, increasing investment in projects from $1bn-1.3bn to $2.5bn annually. Acwa Power, owned 44% by the Saudi wealth fund, is part of Saudi Arabia's carbon neutrality plan by 2060, focusing on solar, wind, and green hydrogen projects.
June 11, 2024
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