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BAKU, Azerbaijan, October 31. ACWA Power, a leading developer of sustainable energy and water projects, announced the signing of agreements worth a combined $10 billion at the ninth Future Investment Initiative (FII9) in Riyadh, Trend reports. The deals span the GCC, China, Central Asia, and Africa, covering renewable energy, energy storage, financing, and technology cooperation. In Saudi Arabia, ACWA Power, alongside Badeel and Saudi Aramco, secured $6 billion in financing under the National Renewable Energy Program to supply clean power to the Saudi Power Procurement In Uzbekistan, the company finalized a $100 million shariah-compliant green equity bridge financing for the 1.5 GW Kungrad Wind and Battery Energy Storage Project and a $1.8 billion financing package for the Samarkand Solar and Battery Energy Storage Project - the country’s largest to date. ACWA Power also advanced the 300 MW Bash 2 Wind Project and commissioned the 100 MW Karatau Wind Project in Karakalpakstan. Across Africa, ACWA Power deepened collaboration with the International Finance Corporation (IFC) and the OPEC Fund to expand clean energy and water investments worth over $1.4 billion, and signed an MoU with Chariot Limited to co-develop renewable platforms for the Southern African Power Pool. Additionally, the company signed three framework agreements with Chinese wind technology firms - Goldwind, Envision Energy, and Mingyang Smart Energy - to strengthen local manufacturing and technology transfer. Chairman Mohammad Abunayyan said the agreements highlight ACWA Power’s commitment to accelerating the global energy transition through innovation, partnerships, and sustainable infrastructure development.
