Saudi fund nears deal to buy key stake in Acwa Power

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

News

Acwa, Saudi Energy Co. sign $3bn PPA for Rabigh 2 gas plant

20/04/2026

Saudi utility giant Acwa and Saudi Energy Co. have signed a 31-year power purchase agreement with the Saudi Power Procurement Co. for the Rabigh 2 Independent Power Producer Expansion project.
<

Arab News

Acwa announces temporary output limits at two Saudi solar plants

06/04/2026

Global utility major Acwa Power has announced that two of its solar independent power producer (IPP) plants in Saudi Arabia have been subject to temporary dispatch limitations following instructions

Trade Arabia

Acwa Power buys entire 32pc Badeel stake in Shuaibah Water and Electricity Company

19/03/2026

Global utility major Acwa Power has announced that it has successfully completed the acquisition of the entire 32% stake of Water and Electricity Holding Company (Badeel) in the Shuaibah Water and El

Trade Arabia

Most Viewed Companies

Ticker Price Volume

Valuation

ACWAPOWER Sector Market
P/E
Price/BookValue

Momentum

Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Top Related Companies

Ticker Price Change
TAQA 2.36 -0.04 (-1.67%)
DEWA 2.72 -0.02 (-0.73%)
SAUDIENERGY 17.60 0.30 (1.73%)
EMPOWER 1.59 0.00 (0.00%)
MARAFIQ 34.50 0.74 (2.19%)

Recent News

Aamal Company plans new investments this year; growth prospects 'very bright' across sectors

22/04/2026

Aamal Company is making new investments this year as it finds growth prospects across all its business divisions as "very bright"

"Given the relative stability of Qatar`s economic landscape

Gulf Times

UDC posts QR71mn net profit on QR459mn revenues in Q1

22/04/2026

United Development Company (UDC) reported a net profit of QR71mn on revenues of QR459mn in the first three months of 2026.

The net profit attributable to the equity shareholders stood at QR7

Gulf Times

Gulf Bank launches a special offer for Kuwaiti Salary Account customers

22/04/2026

Gulf Bank has launched a special offer for Kuwaiti government salary account customers, through which customers can receive a cash welcome gift of up to KD 1,200 when transferring their salary to Gul

Kuwait Times

Nakilat reports $120.43m net profit for Q1

22/04/2026

Qatar Gas Transport Company (Nakilat) achieved a net profit of QAR439 million ($120.43 million) for the first quarter ended March 31, 2026, compared to QAR433 million for the same period of 2025.

Trade Arabia

GWC posts steady Q1 profit despite supply chain disruption

22/04/2026

Qatar-based Gulf Warehousing Company (GWC Group) has reported a net profit of QR33.7 million ($9.3 million) for the first quarter of 2026, while its gross revenues hit QR318 million ($86.3 million),

Trade Arabia

logo

Financial Information Co.

Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2025, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap