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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.

PIF | December 20, 2024 | By EI News Network | 621

Ceer Partners with Rimac for High-Performance EV Drive Systems in Saudi Arabia

Ceer, Saudi Arabia’s first EV brand, has partnered with Rimac Technology to equip its flagship vehicles with advanced Electric Drive Systems, marking Rimac's first large-scale project in the GCC.

PIF | November 13, 2024 | By EI News Network | 821

ACWA Power and Partners Secure Financial Close on Solar Projects

Acwa Power, alongside Badeel and Saudi Aramco Power Co., has secured USD 3.2 billion in funding for solar projects in Saudi Arabia. The financing will support the Haden, Muwayh, and Al Khushaybi plants, with a total capacity of 5.5 GW, expected to begin commercial operations in Q1 2027.

PIF | October 02, 2024 | By EI News Network | 728