- Acwa Power signs agreement for co-operation on project finance with Saudi EXIM
Acwa Power, a leading developer and operator of power generation, desalinated water and green hydrogen facilities, has signed a Memorandum of Understanding (MoU) with Saudi Export-Import Bank (Saudi EXIM), for co-operation on knowledge sharing initiatives in the area of project finance.
According to Acwa Power, the extensive agreement involves knowledge transfer in the realm of credit issuance, with the objective of facilitating and growing Saudi exports and overseas investments by Saudi institutions and organisations. The MoU will also bolster the growth of local content and Saudi exports in international projects and capital investments overseas, which will, in turn, create new jobs and foster economic growth within the Kingdom and beyond.
“At Saudi EXIM, we are working to expand partnerships with local and international entities to support and diversify innovative financing products and credit solutions that meet the objectives of our partners and beneficiaries.” CEO Engineer Saad bin Abdulaziz Al Khalb said.