Riyadh’s PIF sovereign wealth fund has increased its stake in Saudi private power developer Acwa Power. PIF will take 15.2% of Acwa, increasing its shareholding to 24.98% given it already has 9.78% via wholly-owned subsidiary Sanabil.
The move brings PIF the prospect of additional profits from a company involved in some of Mena’s biggest power projects and gives Acwa access to a deep-pocketed investor. (CONTINUED - 913 WORDS)
