ACWA Power, a leading Saudi developer, investor, and operator of power generation, water desalination, and green hydrogen plants worldwide, has signed a three-year revolving credit facility (RCF) agreement with China Construction Bank.

The agreement provides ACWA Power with access to a $100 million credit facility that will support the company's strategic plans to scale its power and water generation portfolio in the Middle East and the Belt & Road (BRI) countries and contribute to the social and economic development of the communities it invests in and serves.

ACWA Power signed the loan with the branch of China Construction Bank Corporation located in the Dubai International Financial Centre.

On June 18th, ACWA Power announced an Engineering, Procurement, and Construction (EPC) contract with Energy China Group Corporation (CEEC) for a solar photovoltaic (PV) project in Tashkent, Uzbekistan.

Last year, ACWA Power signed a series of MoUs with nine renowned Chinese entities to lay the ground for financing, investment and construction of global clean and renewable energy projects in Saudi Arabia and BRI countries.

(Writing by Seban Scaira seban.scaira@lseg.com; editing by Anoop Menon)