ACWA Power, EIG sign $500 mln agreement

ACWA Power signed a preliminary conditional agreement worth $500 million with EIG Co., a leading institutional investor in the global energy and infrastructure sectors, according to the company statement.

This was on the sidelines of the 7th edition of the Future Investment Initiative (FII) held in Riyadh, as the two parties agreed to cooperate in power generation projects, water desalination, green hydrogen, and green ammonia.

In addition, they will focus especially on investing in projects that will be developed in the GCC and the Republic of Uzbekistan.

Source : Argaam