Silk Road Fund completes purchase of a 49% stakes in the ACWA Power Renewable
China's Silk Road Fund has completed the acquisition of a 49% stake in ACWA Power's renewable energy platform that currently owns a number of its existing renewable energy projects.
With the closing of the deal, CWA Power RenewCo will own ACWA Power’s concentrated solar power projects, photovoltaic projects, and wind assets across the United Arab Emirates, South Africa, Jordan, Egypt, and Morocco, yielding an aggregate capacity of 1668 MW.
The Silk Road Fund is a medium-to-long-term development and investment fund established in Beijing under the framework of ‘Belt and Road Initiative’.
No financial details of the transaction were released.
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