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Solar Overtakes Wind Energy For First Time In Global Rush For Renewables
SAUDI ARABIA

Saudi Arabia’s PIF Acquires 9.5% Stake in Offshore Wind Player Skyborn Renewables – EQ Mag

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The renewable energy company was acquired by an investor consortium in October Saudi Arabia’s Public Investment Fund has acquired up to a 9.5 per cent stake in offshore wind farm developer Skyborn Renewables as it boosts its clean energy portfolio. The financial terms of the deal were not disclosed. Skyborn Renewables has interests in operating […]
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Living Atlas Mapping Every Solar & Wind Energy Source Around The World
SAUDI ARABIA

Solar Costs Will Rise for Many Years, Says Saudi Arabia’s ACWA – EQ Mag Pro

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Soaring inflation and higher interest rates mean that costs for solar-power projects will rise for the next five to seven years, according to Saudi Arabia’s biggest renewable energy company. “Five years, I hope,” Paddy Padmanathan, chief executive officer of ACWA Power Co., said in an interview at the Future Investment Initiative conference in Riyadh. “Costs […]
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Saudi Arabia’s sovereign wealth fund hires banks for debut green bonds
SAUDI ARABIA

Saudi Arabia’s wealth fund hires banks for debut green bonds – EQ Mag Pro

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Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has hired banks including Citi and JPMorgan to arrange a debut issuance of multi-tranche US dollar-denominated green bonds, a document showed on Tuesday. BNP Paribas, Citi, Deutsche Bank, Goldman Sachs and JPMorgan, mandated as joint global coordinators and active bookrunners, will organize investor calls starting […]
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Saudi Arabia’s desalination energy use down thanks to new tech ACWA Power CEO
SAUDI ARABIA

Saudi Arabia’s desalination energy use down thanks to new tech: ACWA Power CEO – EQ Mag Pro

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RIYADH: Massive technological developments spearheaded in Saudi Arabia have driven down the amount of energy needed to desalinate water, according to the CEO of ACWA Power. Speaking during the Future of Desalination International Conference in Riyadh on Sept. 12, Paddy Padmanathan said there was still further to go to reduce the energy consumption in the […]
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Saudi Arabia’s SEC raises $3.56bn to finance growth and support Egypt electricity project
SAUDI ARABIA

Saudi Arabia’s SEC raises $3.56bn to finance growth and support Egypt electricity project – EQ Mag Pro

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Saudi Electricity Company secured financing through two facilities Saudi Electricity Company, the kingdom’s main utility, has raised more than $3.56 billion in financing to support its long-term growth and the Saudi Arabia-Egypt electricity interconnection project, it said on Thursday. SEC signed an agreement to obtain a US dollar-denominated $3bn international syndicated facility and a $567.5 […]
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