ACWA Power plans to manufacture solar panels: report

14/01/2019 Argaam

 

Riyadh-based ACWA Power is planning to manufacture solar panels, Reuters reported on Monday, citing company CEO Paddy Padmanathan.

 

The company, which is partly owned by the Public Investment Fund (PIF), is working with the Saudi sovereign wealth fund and Japan's SoftBank on their $200 billion solar-power generation project, announced last March.

 

"ACWA, being a Saudi company, will be working with PIF and Softbank … we're in discussions to become a solar panel manufacturer," he noted.

 

According to Padmanathan, the company intends to double its power production capacity by 2025 and to expand its operations to 25 markets from the current 12.

 

While the IPO has been postponed, the CEO said the company is still committed to a listing.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Most Read