Stay updated with breaking news from Shuqaiq water. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
ACWA Power Company shrugged off the pandemic, geopolitical tensions and challenges relating to supply chains and inflation to post adjusted net profit of SAR1,575m in 2022, up 32% on 2021. ....
RIYADH: Moody’s Investors Service on Tuesday downgraded the rating of fixed rate amortizing senior secured bonds issued by ACWA Power Management and Investments One Ltd. to Ba1 from Baa3. The outlook remains stable, said a statement issued by the US credit rating agency. The $814 million of 5.95 percent fixed rate amortizing senior secured bonds are due in December 2039. The ....
Acwa Power, a key Saudi developer of power and water desalination projects, has announced that 65 projects worth SR253.4 billion ($67.4 billion) within its portfolio are either in operation, construction or advanced development stage across the globe. ....
JEDDAH: ACWA Power is steadily working toward achieving the Kingdom’s mission of reaching net zero carbons by 2060, as the company has decided not to invest in oil- or coal-fired power plants going forward. “When we did the IPO, we had a coal-fired power plant and were developing another one, (but) we have stopped that and reserved the cost of this development,” ACWA Power CEO ....
RIYADH: PIF-owned ACWA Power has sold its 32-percent stake in a Shuqaiq Water and Electricity Co. at SR391.5 million ($105 million), it said in a bourse filing. Dated back to 2011, Shuqaiq IWPP, which is owned and operated by the company at stake, has 850 megawatt power and 212,000 cubic meters per day water desalination capacity. The move is part of the utility giant’s ....