ACWA Power and Silk Road Fund announce the completion of partnership over ACWA Power Renewable Energy Holding Ltd

UAE, Dubai, May 10, 2020: ACWA Power, a leading developer, owner, and operator of power generation and water desalination plants recently announced the completion of the transaction to introduce Silk Road Fund as a partner and a 49% shareholder in ACWA Power Renewable Energy Holding Ltd (ACWA Power RenewCo).

ACWA Power RenewCo is ACWA Power’s renewable energy platform that currently owns a number of its existing renewable energy projects. The platform capitalises on the rapidly growing potential for renewable energy in emerging markets and currently owns ACWA Power’s concentrated solar power, photovoltaic solar, and wind assets across the United Arab Emirates, South Africa, Jordan, Egypt and Morocco, yielding an aggregate power capacity of 1668 MW.

This is the third successful collaboration between ACWA Power and the Silk Road Fund. Previously, both companies invested in two flagship UAE based projects: 2400MW Hassyan clean coal power plant; and the 950MW Hybrid CSP and PV fourth phase of MBR Solar Park which will power 320,000 residential homes.