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- Bahrain All Share Index marks 1,970.96 points
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- AD Ports, Stellantis to develop integrated automotive ecosystem in Abu Dhabi
- Alba, Tamkeen, Brinc MENA Shortlist Three Bahraini SMEs for Open Innovation Programme
- SAL Saudi Logistics Services seals agreement with Saudi Post
- Tecom Group's 55pc Dubai office buildings get LEED certification
- Aldar announces sell-out of Yas Living; nets over $354m in sales
- Oil Edges Up as US, China Tamp Down Trade Tension
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07/02/2018 05:12 AST
Saudi Arabia's sovereign wealth fund is nearing an agreement to buy about a 10 per cent stake in Acwa Power International ahead of an initial public offering by the Riyadh-based energy producer, said a report.
The Public Investment Fund (PIF) may sign an agreement with the power plant developer in the coming days, reported Bloomberg citing people with knowledge of the matter.
Talks are still ongoing and may not result in a deal, they said. It's not immediately clear what valuation Acwa Power could get from the investment.
The PIF is also a major investor in some of the kingdom's largest firms, including Saudi Telecom Company, Saudi Arabian Mining Company and National Commercial Bank.
It also took a 16.32 per cent stake in Almarai Company, the country's biggest dairy producer, last year as the government supports national companies and develops them into regional and global leaders.
The potential investment from PIF comes at a time when Acwa Power is making plans to raise more than $1 billion from an IPO, people familiar with the matter said last month.
The share sale would be one of the first to allow so-called qualified foreign investors to participate in an IPO in the kingdom, stated the report.
Started in 2004, Acwa Power owns conventional power, renewable and water desalination assets across the Middle East, as well as projects in Vietnam and South Africa. It's one of the largest electricity generation companies in the Middle East, both in conventional and renewable energy.
Trade Arabia
06/10/2025
Consortiums led by leading utility majors including French group EDF Renouvelables; Hong Kong-based Jinko Power and Chinese group Tianjin Zhonghuan New Energy as well as regional giants Saudi-based A
Trade Arabia
24/09/2025
The Renewables (RENU) vertical of Larsen & Toubro has signed a memorandum of understanding with ACWA Power for the renewables and grid scope of the pioneering Yanbu Green Ammonia Project in Saudi Ara
Trade Arabia
22/08/2025
Saudi utility giant ACWA Power has commenced commercial operations at three solar power plants in Saudi Arabia, with a combined capacity of 2.79 gigawatts, the company said in statements to Tadawul.
Arab News
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| TAQA | 3.38 | 0.01 (0.29 |
| DEWA | 2.75 | 0.01 (0.36 |
| SAUDIELECTRICITY | 15.43 | 0.06 (0.39 |
| EMPOWER | 1.69 | 0.01 (0.59 |
| MARAFIQ | 43.00 | 0.64 (1.51 |
15/10/2025
The Abu Dhabi Investment Office (ADIO) and Abu Dhabi Ports Group (AD Ports Group) have signed a strategic co-operation agreement with Stellantis, one of the world's largest automotive manufacturers a
Trade Arabia
15/10/2025
Aluminium Bahrain B.S.C. (Alba), the world's largest aluminium smelter on one site, is pleased to announce its progression to the accelerator phase of the Open Innovation Programme, a strategic colla
BNA
15/10/2025
Saudi-based SAL Saudi Logistics Services has signed a strategic agreement with Saudi Post to enhance mail handling and transportation operations across various regions of the Kingdom.
As pe
Trade Arabia
15/10/2025
Tecom Group has announced that 55% of the gross leasable area across its commercial portfolio is LEED (Leadership in Energy and Environmental Design) certified after it received 12 certifications dur
Trade Arabia
15/10/2025
Leading Abu Dhabi developer Aldar has announced the sell-out of its prime project - Yas Living - within days of launch, generating over AED1.3 billion ($354 million) in sales.
Located on th
Trade Arabia
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