Saudi Arabia’s Acwa Power has completed the first part of its $693mn purchase of Engie’s power generation assets in Bahrain and Kuwait. The transaction, first announced in February (MEES, 21 February) will give the Saudi firm new gas-fired power generation capacity of 4.6GW, as well as 1.1mn m³ of water desalination capacity.
In a 15 December announcement, Acwa says that it has now completed the acquisition of power generation and water desalination assets in Bahrain, while for the Kuwait portion “a few customary technical conditions are remaining, following which the transaction will be finalized.” (CONTINUED - 880 WORDS)
