Saudi Arabia’s Acwa Power has completed its purchase of Engie’s 18% indirect stake in Kuwait’s 1.6GW, 486,000 m3/d Az-Zour North gas-fired plant. The deal was initially announced in February 2025 (MEES, 21 February 2025), and also included the purchase of Engie’s stakes in Bahrain power plants. The Bahrain portion of the deal was completed last month (MEES, 19 December 2025).
In a 7 January statement to the Kuwait bourse the listed-venture that operates the power plant, Shamal Az Zour Al-Oula Power and Water Company, announced that the deal had completed on 6 January. It also announced that two board members had resigned on 7 January and that the resignations “are related to the completion of the transaction concerning the transfer of Engie’s stake to Acwa Power.” (CONTINUED - 122 WORDS)