Riyadh – Mubasher: Saudi energy company ACWA Power is planning to inject $10 billion in investments during 2020, CEO Paddy Padmanthan told Reuters on Saturday.
The company is planning to launch projects in 10 countries, Padmanthan added.
ACWA Power owns assets in 12 countries and bade for renewable energy projects in five new countries, including Ethiopia, Tunisia, Cambodia, Azerbaijan, and Uzbekistan.
“We have won two renewable energy projects (in Ethiopia) this year which together will produce 300 megawatts, they will run in parallel and be worth about $500 million of investments,” Padmanthan said.
Earlier in January, ACWA Power signed an agreement with Azerbaijan’s energy ministry for the development, building, and operation of a 240-megawatt wind power project.
