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- Oman announces new fiscal incentives for third green hydrogen auction
- Bank ABC Islamic H1 net profit up 7.3% to $26.9m
- Burgan Bank renews ISO/IEC 20000-1:2018 certification
- OQEP reaches revenue of $1.1bn for the first half of 2025
- NBK sponsors the 'Green Adventure' program in collaboration with LOYAC
- e& launches Monitoring-as-a-Service for real-time infrastructure visibility
- ADIB inks key Abu Dhabi housing finance agreement
- RAK Ceramics posts solid Q2 growth; revenue soars to $435m
- Cityscape Global set for mega show; to draw 172,000 participants
- Asia markets rise on growing rate cut hopes
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
29/07/2025
Acwa Power, the world's largest private water desalination company, leader in energy transition and first mover into green hydrogen, has announced the successful completion of its SAR7.13 billion ($1
Trade Arabia
21/07/2025
Acwa Power has signed key project agreements with the Government of Senegal for the Grande-Côte seawater desalination project.
The project, powered by renewable energy, is set to secure up
Trade Arabia
14/07/2025
A Saudi consortium led by ACWA Power has signed agreements worth SR31 billion ($8.3 billion) to develop seven major solar and wind energy projects with a combined capacity of 15,000 megawatts, the Sa
Arab News
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| TAQA | 3.35 | 0.00 (0.00 |
| DEWA | 2.73 | -0.01 (-0.37 |
| SAUDIELECTRICITY | 14.44 | -0.17 (-1.17 |
| EMPOWER | 1.73 | -0.02 (-1.15 |
| MARAFIQ | 40.00 | -0.14 (-0.35 |
14/08/2025
Bank ABC Islamic reported a net profit of $26.9 million for the first half of 2025, a 7.3% increase compared to $25.1 million for the same period last year.
The performance was driven by
Trade Arabia
14/08/2025
In a testament to the success of the Bank's ongoing digital transformation, Burgan Bank announced the successful renewal of its International Organization for Standardization and International Electr
Kuwait Times
14/08/2025
OQ Exploration and Production (OQEP), Oman's exploration and production company, has released its financial results for the first half of the fiscal year ending June 30, 2025.
The company r
Trade Arabia
14/08/2025
As part of its strategic partnership with LOYAC, and within its ongoing commitment to youth and society development, NBK sponsored the "Green Adventure" program aimed to build future leaders. The "Gr
Kuwait Times
14/08/2025
e&, a global technology group, has launched Monitoring-as-a-Service (MaaS), a groundbreaking solution set to redefine infrastructure monitoring in the UAE.
By enabling a new level of opera
Trade Arabia
Financial Information Co.
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