Silk Road Fund becomes a 49% shareholder in ACWA Power Renewable Energy Holding Ltd

ACWA Power, a leading developer, owner, and operator of power generation and water desalination plants signed an agreement with Silk Road Fund, introducing it as a partner and shareholder in ACWA Power Renewable Energy Holding Ltd (ACWA Power RenewCo) - ACWA Power’s renewable energy platform that currently owns a number of its existing renewable energy projects - with a 49% stake in the company. The transaction is subject to customary consents.

ACWA Power RenewCo acts as a platform that capitalises on the rapidly growing potential for renewable energy in emerging markets. ACWA Power RenewCo will own ACWA Power’s CSP, PV, and wind assets across the United Arab Emirates, South Africa, Jordan, Egypt and Morocco, yielding an aggregate capacity of 1668 MW.

ACWA Power and Silk Road Fund have previously successfully co-invested in two UAE-based projects, including the 2400MW Hassyan clean coal power plant， and the 950MW Hybrid CSP and PV fourth phase of MBR Solar Park to respectively power 1.3 million people and 320,00 residential homes. With Silk Road Fund set to become a shareholder in ACWA Power RenewCo, new doors of collaboration and projects are opening up.

The Silk Road Fund is a medium-to-long term development and investment fund established in Beijing under the framework of “Belt and Road Initiative”. Following a philosophy of openness, inclusiveness and mutual benefit, SRF operates its business based on market principles, international standard and professional excellence.