ACWA Power Chairman Mohammad Abunayyan

Saudi Arabia's International Company for Power and Water Projects (ACWA Power) has four projects in Uzbekistan with investments worth more than $4 billion, Asharq TV reported, citing Chairman Mohammad Abunayyan.

 

He added the projects are related to the generation of electricity from gas and renewable energy from wind, indicating that Uzbekistan has several opportunities and major capabilities.

 

In April, ACWA Power announced the successful financial closure for the development, construction and operation of the 1500 MW Sirdarya Combined Cycle Gas-Turbine (CCGT) power plant in Uzbekistan, Argaam earlier reported.

 

Last Thursday, the company announced its prospectus to offer 81.2 million shares, representing 11.1% of the company, in an initial public offering (IPO) on the Saudi Exchange (Tadawul).

 

The company will sell 81.2 million shares to raise its capital to SAR 7.311 billion from SAR 6.457 billion.

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