ACWA Power has signed agreements worth over $1.78 billion covering renewable energy, battery storage, and research and development across Gulf countries, China, central Asia, and North Africa, Saudi state news agency SPA said on Tuesday.
The agreements, signed during the Future Investment Initiative conference in Riyadh, include a $690 million financing deal with the National Bank of Kuwait and a $402 million Sharia-compliant loan from the International Finance Corporation to support solar projects in Uzbekistan, SPA said.
A further $800 million will fund a wind and battery storage project in Morocco, while $54 million is allocated to a research and development centre in Shanghai, SPA added.
Source: www.zawya.com