• ACWA Power has finalized over $1.78 billion in agreements for renewable energy and battery storage initiatives in Gulf countries, China, Central Asia, and North Africa.
• Major financing includes a $690 million deal with the National Bank of Kuwait and a $402 million Sharia-compliant loan from the International Finance Corporation for solar projects in Uzbekistan.
• Additional funds target Morocco and China, with $800 million dedicated to a wind and battery storage project in Morocco and $54 million for an R&D center in Shanghai.

ACWA Power recently signed agreements exceeding $1.78 billion, focused on advancing renewable energy, battery storage, and R&D efforts across regions, including the Gulf, China, Central Asia, and North Africa. These deals were finalized at the Future Investment Initiative conference in Riyadh, underscoring ACWA Power’s commitment to driving sustainable projects globally.

In partnership with the National Bank of Kuwait, ACWA Power secured a $690 million financing deal. Additionally, a $402 million Sharia-compliant loan was provided by the International Finance Corporation to support solar power initiatives in Uzbekistan. Saudi state news agency SPA emphasized the significance of these financial milestones, noting their alignment with regional renewable energy goals.

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Further investments target Morocco and China:

• Morocco: $800 million is allocated to a large-scale wind and battery storage project, contributing to the country’s renewable energy infrastructure.
• China: $54 million is earmarked for a research and development center in Shanghai to bolster innovation in energy storage and sustainable power technologies.

These strategic investments, SPA reported, “illustrate ACWA Power’s ongoing commitment to supporting green energy transition and technology advancement across emerging markets.”