Generation
ACWA Power seeks $1.9B capital increase to power growth
The company aims to raise $1.9 billion through the sale of shares to existing shareholders at discounted prices. This move is part of ACWA Power’s strategy to meet its ambitious investment targets.
In a statement on Thursday, the Tadawul market authority confirmed that ACWA Power had applied for a capital increase of $1.9 billion.
Rising Investment Commitments
ACWA Power has previously stated its expectation for a substantial increase in its average annual investment commitments between 2024 and 2030.
The firm anticipates investing between $2 billion and $2.5 billion each year, a significant rise from its previous commitment of $1 billion to $1.3 billion annually.
Related Articles
Parliament Committee says no need to review three ...
10 Sep, 2024 07:57
Zimbabwe’s Biggest Miners Seek $182 Million for So...
12 Sep, 2024 06:57
GreenGo Energy Expands into Namibia with Strategic...
12 Sep, 2024 07:51
OPEC Fund approves $1.2 billion for development pr...
13 Sep, 2024 08:59
Floating solar starts to gather pace in Africa, as...
13 Sep, 2024 13:18
Prominent South African energy company files for l...
16 Sep, 2024 11:00
Libyan Export Decline and Fed Speculation Propel O...
17 Sep, 2024 08:00
South Sudan says it is ready to restart pumping oi...
17 Sep, 2024 13:23
Interest grows in Africa’s oil and gas hotspot...
18 Sep, 2024 10:42