ACWA Power in talks for selective asset sales: CEO

23/04/2024 Argaam
Logo ofACWA Power Co.

Logo of ACWA Power Co.

ACWA Power Co. is in negotiations for selective asset sales to long-term investors such as pension funds, CEO Marco Arcelli said.

 

In his remarks to Asharq on the sidelines of the World Energy Conference in Rotterdam, the Netherlands, Arcelli noted that long-term investors are pursuing returns from ownership stakes in the company's projects.

 

ACWA Power remains committed to exploring opportunities in Egypt, South Africa, and Morocco, despite already investing billions in these nations, the CEO highlighted.

 

Arcelli also emphasized ongoing discussions with the Iraqi government concerning the development of a solar energy project aimed at generating a gigawatt of electricity. Despite being in its early stages, he expressed confidence in the project's potential.

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