News

Saudi SWF to buy stake in energy company

Solar_panelsSaudi Arabia’s sovereign wealth fund is reportedly in talks to acquire a 10% stake in Saudi energy firm Acwa Power International, according to a report in Bloomberg. The Public Investment Fund’s investment comes at a time when the energy firm is planning to raise more than $1 billion through an initial public offering. Acwa has also been boosted by the news that it has won the tender for Saudi Arabia’s first utility scale solar energy project, a 300 Megawatt plant at Sakaka in the northern area of Al Jouf which is expected to cost more than $300 million. Saudi Arabia is planning to tender around 4GW of renewable projects as it looks for alternative sources to meet the demand for more electricity and to free up more crude oil for export. ©2018 funds global mena

Executive Interviews

INTERVIEW: Totally mega

Jun 13, 2018

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

INTERVIEW: Protecting the investment

Nov 23, 2017

Rasmala’s trade finance fund recently passed $100 million in assets. Doug Bitcon, head of credit strategies, explains why he has to be hands-on.

Roundtables

MENA ROUNDTABLE: ‘The story is about reforms’

Jun 13, 2018

Our cross-industry panel discuss the positive backdrop in Egypt, the Dana Gas controversy and the potential index upgrades of Saudi Arabia and Kuwait. Chaired by George Mitton in Dubai.

SOUTH AFRICA ROUNDTABLE: Airline syndrome

Jun 13, 2018

Our panellists tell us that instead of launching competing national projects, African countries should work together for the sake of a bigger capital market. Chaired by George Mitton in Cape Town.