TAG: "ACWA Power"

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Envision Secures Contract for ACWA Power's 1.1GW Onshore Wind Farm in Egypt

Envision Energy has secured a landmark contract for ACWA Power's 1.1GW onshore wind farm in Egypt's Gulf of Suez region, set to become one of the largest in the MENA Region.

ACWA Power | January 24, 2025 | By News Bureau | 340

ACWA Power Enters China’s Green Energy Market with Strategic Partnerships

ACWA Power enters China’s renewable energy market with USD 312 million investments, partnering with Sungrow Renewables and Mingyang Smart Energy to develop solar and wind projects. These strategic collaborations aim to drive sustainability and expand ACWA Power’s global renewable energy footprint.

ACWA Power | January 15, 2025 | By EI News Network | 525

Iraq Explores Solar Energy Partnership with Saudi Arabia

Iraq and Saudi Arabia are advancing plans for a 1,000 MW solar plant in Najaf, with ACWA Power's potential involvement. The collaboration supports Iraq’s strategy to diversify energy, aiming for 12,000 MW of solar capacity by 2030 through international partnerships.

ACWA Power | January 08, 2025 | By EI News Network | 675

SPPC Releases List of Qualified Bidders for First Group of Battery Storage Projects

Saudi Arabia’s SPPC has announced 33 prequalified developers for the first group of its 2GW/8GWh BESS projects. This initiative is part of the kingdom’s push toward 50 percent renewable energy by 2030, with long-term contracts for selected bidders.

ACWA Power | January 07, 2025 | By EI News Network | 521

ACWA Power Secures Financing for 1,100 MW Wind Power Project in Egypt

ACWA Power has finalised financing for a 1,100 MW wind plant in Suez Governorate, Egypt, valued at SAR 4.13 billion. The project, in which ACWA Power holds a 70 percent stake, will be funded by global financial institutions, including EBRD, AFDB, and APICORP, over 20 years.

ACWA Power | December 31, 2024 | By EI News Network | 1110

ACWA Power to Raise SAR 7,125 Million Through Rights Issue

ACWA Power has submitted a proposal to Saudi Arabia’s Capital Market Authority to raise SAR 7,125 million (~ USD 1.9 billion) through a rights issue, aiming to fund its increased investment targets for renewable energy projects and global clean energy initiatives.

ACWA Power | December 20, 2024 | By EI News Network | 620

Egypt Secures USD 40M OPEC Fund Loan for Gulf of Suez Wind Farms

Egypt received USD 40M from the OPEC Fund to develop 1.1 GW wind farms in the Gulf of Suez, advancing its renewable energy targets. The USD 1.1B project will supply power to 1.3M homes by 2026.

ACWA Power | December 13, 2024 | By EI News Network | 627

ACWA Power Partners with Itochu for Global Renewable Energy Projects

Saudi Arabia’s ACWA Power and Japan’s Itochu Corporation have signed an MoU at COP29 to collaborate on renewable energy and environmental infrastructure, focusing on green hydrogen and water desalination to accelerate global energy transition and sustainability goals.

ACWA Power | November 22, 2024 | By EI News Network | 983

Masdar, SOCAR Green and ACWA Power Join Hands to Develop 3.5 GW Offshore Wind Projects in Azerbaijan

Abu Dhabi-based renewable energy company Masdar has signed an MoU with Saudi-based ACWA Power and SOCAR Green, a subsidiary of Azerbaijan's state oil company SOCAR to develop 3.5 GW of offshore wind projects in the Azerbaijan section of the Caspian Sea. It would be the country’s first offshore wind farm.

ACWA Power | November 15, 2024 | By Mrinmoy Dey | 719

ACWA Power Reports Strong Financial Results

ACWA Power reported a 16 percent rise in net profit for the nine months ending September 30, 2024, driven by increased operating income and significant project mobilisation. The company expanded its global portfolio with new agreements in Uzbekistan, Saudi Arabia, and the UAE, further solidifying its role in the energy and water sectors.

ACWA Power | November 08, 2024 | By EI News Network | 726