Saudi Arabia’s ACWA Power Plans $10B of Investments

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Saudi Arabia’s utility developer ACWA Power plans to invest about $10 billion this year as it seeks out new projects in 10 countries, Reuters reported, citing Chief Executive Officer Paddy Padmanthan. The company operates in a dozen countries and is now bidding for projects in new markets including Ethiopia, Tunisia, Cambodia, Azerbaijan and Uzbekistan, Reuters reported, citing Padmanthan at an energy event in Abu Dhabi. Saudi Arabia’s Public Investment Fund plans to boost its stake to 40% from 25%, it added.


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