Silk Road Fund becomes 49 percent shareholder in ACWA Power RenewCo
Post date: 23/06/2019 - 18:29
Chinese Silk Road Fund acquires a 49 percent stake in ACWA Power Renewable Energy Holding Ltd (ACWA Power RenewCo), renewable energy platform of ACWA Power, Saudi-Arabian developer, owner, and operator of power generation and water desalination plants. According to the company, ACWA Power RenewCo will own ACWA Power’s CSP, PV, and wind assets across the United Arab Emirates, South Africa, Jordan, Egypt and Morocco, yielding an aggregate capacity of 1,668 MW.
ACWA Power and Silk Road Fund have previously co-invested in two UAE-based projects, including the 2,400 MW Hassyan clean coal power plant, and the 950 MW Hybrid CSP and PV fourth phase of Mohammed Bin Rashid Al Maktoum Solar Park. The Silk Road Fund is a development and investment fund established in Beijing under the framework of »Belt and Road Initiative«.