The Saudi utilities giant ACWA Power company has boosted its project portfolio worldwide to a record $115 billion, a top company executive has said.

The company intends to forge strategic partnerships and massive financing deals to contribute to achieving sustainability and strengthening Saudi Arabia's position as a global hub for clean, renewable energy, Hesham Tashkandi, President-KSA, ACWA Power told Al-Eqtisadiah daily.

The total number of ACWA Power projects in Saudi Arabia has risen to 39, with investments exceeding $68 billion, he said in comments published on Tuesday.

“The company continues to strengthen its presence in the fields of renewable energy, water desalination, and green hydrogen, through a portfolio of massive projects being implemented inside and outside Saudi Arabia,” he said.

“ACWA Power currently has around 110 projects around the world, with total investments estimated at nearly $115 billion…2025 will be a pivotal year in the company's journey, as a number of major projects are expected to be completed that will contribute to enhancing Saudi Arabia's capabilities in the fields of sustainable energy and water desalination.”

(Writing by N Saeed; Editing by Anoop Menon)
(anoop.menon@lseg.com)

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