Saudi Arabia’s Public Investment Fund (PIF) has acquired a significant stake in the International Company For Water And Power Projects (Acwa Power), a leading developer, owner, and operator of power generation and water desalination plants.

As a result of the investment, PIF will become a 15.2 per cent direct shareholder in Acwa Power and, by taking into account the 9.78 per cent ownership of its wholly-owned subsidiary Sanabil Direct Investments Company, PIF’s total shareholding directly and indirectly represents a 24.98 per cent equity interest in Acwa Power, a statement said.

 

(LINK).