PIF closes acquisition of 15.2% stake in ACWA Power
Public Investment Fund (PIF) has closed the acquisition of 15.2% stakes in the Riyadh-based ACWA Power. The transaction was initiated in 2016 after PIF hired HSBC to advise on the purchase. The company already owned 9.8% stakes in ACWA through its subsidiary, Sanabil Direct Investments Company, which brings a total shareholding in the company to 25%.
ACWA has also been planning to offload 30% stakes in an initial public offering (IPO) in Riyadh by the end of 2018 and has asked JP Morgan, Citigroup, Natixis and Riyad Capital to advise on the process.
Country updates
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July 04, 2018
PIF of Saudi Arabia has acquired 15.2% of direct stake from ACWA Power in addition to its 9.78% ownership through a wholly owned unit
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June 28, 2018
A group of investors lead by Renova Inc
A group of investors lead by Renova Inc. has achieved the financial close for the biomass power generation project. Pinaccle Renewable Holdings has also entered into a long-term contract to deliver 17...
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June 27, 2018
Argentine government has signed the contract for the round 2 of the RenovAr renewable energy auction programme
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June 25, 2018
CGN New Energy Holdings Co will be getting the expected rate of renewable energy certificates, a key condition for the start of EPC works
CGN New Energy Holdings Co will be getting the expected rate of renewable energy certificates, a key condition for the start of EPC works. The start of construction has been confirmed on through REC weighted value of 1.5
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June 19, 2018
Maas Companies has launched the sale process of the biomass project
Maas Companies has launched the sale process of the biomass project. The facility will be sold via a sealed bid auction
