CEO says that five projects are certified for green finance.
Saudi Arabia’s ACWA Power is to explore the possibility of issuing green bonds from 2022 to help finance some of its renewable energy projects according to its chief executive officer.
Speaking to Reuters on the sidelines of a conference, ACWA's CEO Paddy Padmanathan said that the company has five projects certified for green finance which will together require almost $10 billion of financing.
ACWA has already said it will try to raise $1.2 billion in an initial public offering that will be Saudi Arabia’s largest since shares were offered in Aramco.
ACWA recently announced that the final agreements were now in place for the $12 billion asset transfer of the air separation unit (ASU)/gasification/power project at the Jizan Economic City in Saudi Arabia as part of a joint venture.
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