ACWA Power reaches financial close for over 10 projects worth $14b

This is the largest-ever recorded in the company’s history.

Saudi Arabia-based Masdar has achieved the largest financial closure in the company’s history, reaching financial closure for 10 projects worth over $14b in the past 12 months.

In a statement, ACWA Power said these 10 projects are located in Saudi Arabia, Egypt and Uzbekistan across various portfolios including renewables, water desalination, and green hydrogen.

“It demonstrates our agility, resilience, and unwavering commitment to creating a sustainable future for generations to come. It not only validates our expertise as a developer and operator of strategically vital projects but also speaks highly about the trust our investors and partners place in us,” ACWA Power Chief Financial Officer Abdulhameed Al Muhaidib said.

ALSO READ: ACWA Power partner with 2 Chinese firms for clean energy development

The projects that reach financial close include the $8.5b NEOM Green Hydrogen Project which is the world’s largest utility-scale green hydrogen facility, and the Ar Rass solar PV and the Al Shuaibah 1 and Al Shuaibah 2 solar PV projects in Saudi Arabia.

Projects that also reached financial close were the Bash, Dzhankeldy and Nukus wind projects in Uzbekistan, the Kom Ombo solar project in Egypt, the Shuaibah 3 Independent Water Plant (IWP) and most recently the Rabigh 4 IWP in Yanbu, Saudi Arabia.

Follow the link for more news on

ACWA Power

Also Read

NSW OKs Liverpool Range Wind Farm expansion

SPNEC faces delays in project over right-of-way, grid connection issues

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

India’s Rajasthan and Gujarat need policy reforms to fuel RE transition

Some steps they could take are implementing green tariffs and setting infrastructure funds.

8 hours ago

Global clean energy tech market to hit $2t by 2035

This is fuelled by investments as countries aim to enhance energy security.The global clean energy technology market is projected to grow from $700b in 2023 to over $2t by 2035, nearing the scale of the crude oil market, according to the International Energy Agency (IEA).This growth is fuelled by significant investments in clean technology manufacturing as countries aim to enhance energy security, maintain economic competitiveness, and cut emissions. Investment is concentrated in regions with established positions in clean energy, particularly China, the European Union, the UK, and increasingly, India.Whilst the US, EU, and India have taken measures to support their clean energy sectors, China is expected to remain the world's manufacturing hub. By 2035, China's clean technology exports are forecasted to exceed $340b—comparable to projected oil export revenues from Saudi Arabia and the UAE.Southeast Asia, Latin America, and Africa contribute less than 5% of global cleantech production value, yet the IEA suggests that these areas still hold opportunities within the clean energy economy. Developing economies, for instance, could leverage competitive advantages to advance in the value chain beyond resource extraction.The IEA said Southeast Asia could become one of the most cost-effective regions for producing polysilicon and wafers for solar panels over the next decade.

9 hours ago

NSW OKs Liverpool Range Wind Farm expansion