Saudi Arabia's ACWA Power plans $10 billion of investments in 2020: CEO - Reuters:
Saudi Arabian utility developer ACWA Power is planning to invest about $10 billion in 2020 as it eyes new projects in some 10 countries, the company’s chief executive said on Saturday.
The company, which builds power and desalinated water plants and has 50% of its portfolio in Saudi Arabia, plans to expand into new markets, Paddy Padmanthan told Reuters on the sidelines of an energy event in Abu Dhabi.
ACWA Power has assets in 12 countries and has bid for renewable energy projects in five new countries – Ethiopia, Tunisia, Cambodia, Azerbaijan and Uzbekistan.
“We have won two renewable energy projects (in Ethiopia) this year which together will produce 300 mega watts, they will run in parallel and be worth about $500 million of investments,” he said.
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