ACWA Power has signed a $100 million revolving credit facility (RCF) agreement with China Construction Bank (DIFC Branch). The three-year financing will support ACWA Power’s plans to enhance its power and water generation portfolio across the Middle East and Belt & Road Initiative countries. The deal strengthens the collaboration between ACWA Power and Chinese entities while diversifying the Saudi firm’s financing sources. It also aligns with the Belt and Road initiative’s focus on promoting renewable energy projects. ACWA Power has been working with China Construction Bank since 2016 on various projects.
- Saudi ACWA Power unveils $100mln RCF agreement from UAE-based Chinese bank