ACWA Power is now valued at $14.2bn, making it one of the biggest listed companies in Riyadh
Initial demand amounted to several billion dollars
The consortium is expected to increase job opportunities
The plant will start producing power in second half of 2022
According to the agreement with ACWA Power, Neutral Fuels biofuel is set to power the site’s entire transportation network
ACWA has proposed various projects in South Africa, from a coal-fired plant to a solar and battery project
The project was awarded to an ACWA Power led consortium
Azerbaijan plans to increase the share of clean energy in electricity generation to 30 per cent over the next decade
The sukuk will be used to help fund Acwa’s share of an $8bn acquisition of gasification and power assets at Jazan
The Solar Park project is the largest single-site solar power plant in the Middle East
The 2GW Al Dhafra Solar PV project is slated for completion in the second quarter of 2022
The company is in talks with local banks about the potential deal that would be denominated in Saudi riyals