Saudi Arabia’s Acwa Power is expanding its presence within the GCC. The firm this week announced transactions worth $693mn which will afford it a foothold in Kuwait, and expand its presence in Bahrain. CEO Marco Arcelli separately added that the firm has submitted a bid for a planned 2.7GW power plant in Kuwait, which is desperately in need of new generation capacity.
In a 19 February statement on Saudi Arabia’s Tadawul bourse, Acwa states that it has signed a share purchase agreement (SPA) with France’s Engie to purchase stakes in facilities with capacity to produce 4.6GW of power generation and 1.1mn m³/d of desalinated water. (CONTINUED - 729 WORDS)
