The Saudi company “ACWA Power”, listed on the Saudi stock market (Tadawul), intends to increase its capital by 7.125 billion Saudi riyals (1.9 billion US dollars) by offering priority rights shares to existing shareholders.

This strategic step aims to enhance the company’s ability to achieve its ambitious growth goals and expand its investment portfolio, and “ACWA Power” seeks to triple its assets under management by 2030.

The company expects that the offering of priority rights shares will significantly increase its share in annual investments, reaching between two billion and 2.5 billion dollars a year during the period from 2024 to 2030, compared to one billion to 1.3 billion dollars a year during the past period.

This increase allows the company to finance new projects, expand its business in the fields of renewable energy and desalination, maintain a strong financial position that enables it to fulfill its obligations to investors, and enhance its competitiveness in the global renewable energy market.

“ACWA Power” is one of the leading companies in the field of renewable energy and desalination in the Middle East and North Africa.

The company has an extensive portfolio of operational and ongoing projects in Saudi Arabia, the United Arab Emirates, Jordan, and Oman. This step contributes to enhancing the position of “Aqua Power” as a major player in the field of renewable energy at the global level, in addition to supporting the efforts of the Kingdom of Saudi Arabia to achieve its goals in the field of clean energy and sustainable development.