to-the-point: S Arabia's ACWA Power to raise USD 8bn

Saudi Arabian firm ACWA Power intends to secure about USD 8 billion (EUR 7.1bn) of debt for power projects, CEO Paddy Padmanathan told Reuters.

The plan is to raise the amount in the first half of 2016. The proceeds will go for several projects, including the 100-MW Redstone concentrating solar power (CSP) project in South Africa and the 1,200-MW Hassyan clean coal power scheme in Dubai.

Demand for power in the Middle East keeps growing. According to the report, Kuwait is seen as one of the most active markets for 2016. ACWA is also interested in new power tenders in Jordan, Morocco and the United Arab Emirates.

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