{"id":87105,"date":"2024-06-12T00:00:00","date_gmt":"2024-06-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/06\/12\/acwa-power-plans-capital-increase\/"},"modified":"2024-06-12T00:00:00","modified_gmt":"2024-06-12T00:00:00","slug":"acwa-power-plans-capital-increase","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/06\/12\/acwa-power-plans-capital-increase\/","title":{"rendered":"Acwa Power plans capital increase"},"content":{"rendered":"

The board of renewables giant Acwa Power has recommended increasing <\/strong>its capital by <\/strong>SAR 7.1 bn through a rights issuance<\/strong>, it said in a disclosure to Tadawul<\/a> yesterday. The funds will be channeled towards supporting Acwa Power\u2019s growth plans, which aim to triple its assets by 2030.<\/p>\n

In numbers:<\/strong> Acwa Power sees spending on its projects between 2025 and the end of the decade surging to USD 2-2.5 bn annually from an earlier range of USD 1-1.3 bn annually, according to the disclosure. \u201cThis capital increase will allow Acwa Power to continue to invest in the growth of its portfolio while maintaining a strong financial position,\u201d Acwa Power said.<\/p>\n

What\u2019s next: <\/strong>The recommendation is still subject to the approval of regulatory authorities and the general assembly, Acwa Power said. The company also needs to appoint a financial advisor for the issuance and submit the necessary paperwork to the Capital Market Authority.<\/p>\n

Market reax:<\/strong> Acwa Power\u2019s fell 8% during intraday trading, but pared back its losses to close down 2.7%. The company is gearing up for the capital increase amid a 570% surge in its share price since its 2021 listing, according to Bloomberg<\/a>. <\/p>\n

About the company:<\/strong> Acwa Power is a leading power generation, renewable energy, and water desalination company that is 44% owned by PIF. Its portfolio includes mega projects in Central Asia, Africa and others. Most of its projects are overseas<\/a>, with Acwa Power planning expansions<\/a> to China. Its portfolio \u2014 which has an investment size of USD 87.9 bn \u2014 has an energy generation capacity of 57.1 GW and a desalination capacity of 8 mn m3\/day, according to its website<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"

Acwa Power says spending on its projects until 2030 is set to surge to USD 2 bn to USD 2.5 bn annually<\/p>\n","protected":false},"author":1,"featured_media":87106,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2704],"tags":[448,2419,10,1151],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87105","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-capital-markets","tag-acwa-power","tag-capital-markets","tag-enterpriseam-ksa","tag-public-investment-fund-pif","wpautop","entry"],"acf":{"mongo_id":"9a07de45-ec6c-4c9f-a408-3591de170938","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/1121.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Acwa Power set to increase capital by SAR 7.1 bn to fund expansions","related_issue":[87094],"teaser":"Acwa Power says spending on its projects until 2030 is set to surge to USD 2 bn to USD 2.5 bn annually","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.81c071c7-488f-4be9-8633-b5bb90f848a3.mp3"},"yoast_head":"\nAcwa Power plans capital increase - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/12\/acwa-power-plans-capital-increase\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Acwa Power plans capital increase\" \/>\n<meta property=\"og:description\" content=\"Acwa Power says spending on its projects until 2030 is set to surge to USD 2 bn to USD 2.5 bn annually\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/12\/acwa-power-plans-capital-increase\/\" \/>\n<meta property=\"og:site_name\" content=\"KSA\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-12T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1121.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/12\/acwa-power-plans-capital-increase\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/12\/acwa-power-plans-capital-increase\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Acwa Power plans capital increase\",\"datePublished\":\"2024-06-12T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/12\/acwa-power-plans-capital-increase\/\"},\"wordCount\":268,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/12\/acwa-power-plans-capital-increase\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1121.jpg?fit=%2C&ssl=1\",\"keywords\":[\"ACWA power\",\"Capital Markets\",\"EnterpriseAM KSA\",\"Public Investment Fund (PIF)\"],\"articleSection\":[\"CAPITAL MARKETS\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/12\/acwa-power-plans-capital-increase\/\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/12\/acwa-power-plans-capital-increase\/\",\"name\":\"Acwa Power plans capital increase - KSA\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/12\/acwa-power-plans-capital-increase\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/12\/acwa-power-plans-capital-increase\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1121.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-06-12T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/12\/acwa-power-plans-capital-increase\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/12\/acwa-power-plans-capital-increase\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/12\/acwa-power-plans-capital-increase\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1121.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1121.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/12\/acwa-power-plans-capital-increase\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/ksa\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Acwa Power plans capital increase\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"name\":\"KSA\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\",\"name\":\"KSA\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42482.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42482.svg\",\"caption\":\"KSA\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Acwa Power plans capital increase - KSA","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/ksa\/2024\/06\/12\/acwa-power-plans-capital-increase\/","og_locale":"en_US","og_type":"article","og_title":"Acwa Power plans capital increase","og_description":"Acwa Power says spending on its projects until 2030 is set to surge to USD 2 bn to USD 2.5 bn annually","og_url":"https:\/\/enterpriseam.com\/ksa\/2024\/06\/12\/acwa-power-plans-capital-increase\/","og_site_name":"KSA","article_published_time":"2024-06-12T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1121.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/06\/12\/acwa-power-plans-capital-increase\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/06\/12\/acwa-power-plans-capital-increase\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Acwa Power plans capital increase","datePublished":"2024-06-12T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/06\/12\/acwa-power-plans-capital-increase\/"},"wordCount":268,"publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/06\/12\/acwa-power-plans-capital-increase\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1121.jpg?fit=%2C&ssl=1","keywords":["ACWA power","Capital Markets","EnterpriseAM KSA","Public Investment Fund (PIF)"],"articleSection":["CAPITAL MARKETS"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/06\/12\/acwa-power-plans-capital-increase\/","url":"https:\/\/enterpriseam.com\/ksa\/2024\/06\/12\/acwa-power-plans-capital-increase\/","name":"Acwa Power plans capital increase - KSA","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/06\/12\/acwa-power-plans-capital-increase\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/06\/12\/acwa-power-plans-capital-increase\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1121.jpg?fit=%2C&ssl=1","datePublished":"2024-06-12T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/06\/12\/acwa-power-plans-capital-increase\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/ksa\/2024\/06\/12\/acwa-power-plans-capital-increase\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/06\/12\/acwa-power-plans-capital-increase\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1121.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1121.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/06\/12\/acwa-power-plans-capital-increase\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/ksa\/"},{"@type":"ListItem","position":2,"name":"Acwa Power plans capital increase"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/ksa\/#website","url":"https:\/\/enterpriseam.com\/ksa\/","name":"KSA","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/ksa\/#organization","name":"KSA","url":"https:\/\/enterpriseam.com\/ksa\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42482.svg","contentUrl":"https:\/\/ent.news\/internal\/42482.svg","caption":"KSA"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1121.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1121.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1121.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/87105","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/comments?post=87105"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/87105\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue\/87094"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media\/87106"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media?parent=87105"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/categories?post=87105"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/tags?post=87105"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/brand?post=87105"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=87105"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}