, Saudi Arabia

ACWA Power targets $16b new projects for 2021

These projects would be spread out around the world.

Saudi-backed ACWA Power is planning to invest $16b in new projects around the world for 2021, according to a report by Arab News.

In 2020, the company planned to invest $10b in new projects but in light of government restrictions due to the pandemic, ACWA  Power only managed $3.5b projects.

ACWA said because there is some spill-over from 2020, they increased their target to $16b.

Since its founding in 2004, ACWA has a total of 64 assets, 15 offices, 3,500 employees and has a presence in 13 countries.

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