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Wednesday, 6 January, 2021 - 09:30 Asharq Al-Awsat
APICORP, a leading multilateral development financial institution, and ACWA Power, a leading Saudi developer, investor and operator of power generation and desalinated water plants worldwide, announced the signing of a $125 million 5-year Shariah-compliant corporate facility to support ACWA Power’s future growth pipeline.
The agreement is aligned with APICORP and ACWA Power’s shared mission of accelerating the energy transition in the MENA region and globally through green technologies, which currently comprise over 15% of APICORP’s financing portfolio.
The facility has been earmarked for funding ACWA Power’s investments in renewable projects in the countries it operates in, as well as future high-growth markets.