Paddy Padmanathan

Saudi fund raises ownership stake in ACWA Power to 50%

ACWA Power is planning an IPO and leads a consortium that will build and operate renewable power-based utilities at Saudi Arabia’s flagship Red Sea tourism project
PIF, which manages $360 billion worth of funds, pursues a two-pronged strategy — building an international portfolio of investments and investing locally in projects

By Reuters · 19 November 2020