ACWA Power secures $2.6 billion for 5.5 GW of solar in Saudi Arabia

ACWA Power has obtained $2. 6 billion through a consortium of banks for three solar plants in Saudi Arabia, with a combined capacity of 5. 5 GW. ACWA Power has landed SAR 9. 7 billion ($2. 6 billion) from a consortium of local, regional and international banks for the development, construction and operation of three solar plants in Saudi Arabia. It will build three facilities in Makkah and Qassim with capacities of 2 GW, 2 GW, and 1. 5 GW. Buraiq Renewable Energy Co. , Moya Renewable Energy Co. , and Nabah Renewable Energy Co. have signed the financing agreements. ACWA Power holds a 35. 1% stake ...

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