Close Menu
Energy NewsEnergy News
  • NEWS
    • Breaking News
    • Hydrogen
    • Energy Storage
    • Grid
    • SMR
    • Projects
    • Production
    • Transport
    • Research
  • SPOTLIGHT
    • Interviews
    • Face 2 Face
    • Podcast
    • Webinars
    • Analysis
    • Columnists
    • Reviews
    • Events
  • REGIONAL
    • Africa
    • Americas
    • Asia
    • Europe
    • Middle east
    • Pacific
  • COMMUNITY
  • ABOUT
    • Advisory Board
    • Contact us
    • Report Your News
    • Advertize
    • Subscribe
LinkedIn X (Twitter) YouTube Facebook
Trending
  • EU–China Energy Diplomacy Amid German Hydrogen Retrenchment: A Deep Dive
  • Merredin BESS Secures $220M Financing but Pays Premium over Global Battery Cost Benchmarks
  • Brazil Stakes Claim in Global Hydrogen Race with €1.3B Investment in Uberaba and Açu Projects
  • Bremen Project Collapse Reveals Fragile Economics Behind Germany’s Green Hydrogen Hopes
  • The Hydrogen Heating Mirage: Why Germany’s “H₂-Ready” Promise Risks Locking in High Costs and Low Returns
  • How Lyten’s Salvage Mission Could Upend Europe’s Battery Wars
  • Doug Wicks on Why Energy Innovation Is Broken—and How to Fix It
  • Cost and Policy Roadblocks Stall LEAG’s H2UB Boxberg Green Hydrogen Hub
LinkedIn X (Twitter) YouTube Facebook
Energy NewsEnergy News
  • NEWS
    • Breaking News
    • Hydrogen
    • Energy Storage
    • Grid
    • SMR
    • Projects
    • Production
    • Transport
    • Research
  • SPOTLIGHT
    • Interviews
    • Face 2 Face
    • Podcast
    • Webinars
    • Analysis
    • Columnists
    • Reviews
    • Events
  • REGIONAL
    • Africa
    • Americas
    • Asia
    • Europe
    • Middle east
    • Pacific
  • COMMUNITY
  • ABOUT
    • Advisory Board
    • Contact us
    • Report Your News
    • Advertize
    • Subscribe
Energy NewsEnergy News
Home Home - Projects
green hydrogen

ACWA Power’s Staggering $746 Million Agreements Uplift Clean Energy Initiatives

Anela DoksoBy Anela Dokso30/10/20232 Mins Read
Share
LinkedIn Twitter Facebook Email WhatsApp Telegram

ACWA Power has signed a series of groundbreaking agreements worth a staggering $746 million. These transformative agreements, forged during the Future Investment Initiative (FII7) in Riyadh, are set to catalyze clean energy and sustainability initiatives across multiple regions.

Central to these significant developments is a monumental agreement, valued at $500 million, between ACWA Power and EIG, a globally recognized institutional investor specializing in energy and infrastructure sectors. This alliance is poised to steer power generation, water desalination, green hydrogen, and green ammonia projects, with a specific focus on strategic investments in Gulf countries and Uzbekistan.

Marco Arcelli, the CEO of ACWA Power, underscored the magnitude of this partnership, saying, “This is a landmark agreement with EIG, one of the world’s largest infrastructure investment firms. Their commitment to working with ACWA Power is a sign of confidence in the company’s strong position in power, water, and green hydrogen, and we look forward to collaborating in these areas.”

ACWA Power has also secured project financing agreements totaling $246 million with the European Bank for Reconstruction & Development (EBRD) and the OPEC Fund for International Development for a 240MW wind power project in Azerbaijan. This initiative marks a historic milestone as the first foreign investment-based independent wind power project in the Republic of Azerbaijan, structured as a public-private partnership (PPP) with a total investment of $347 million. The project is expected to provide sustainable energy to nearly 300,000 households, save 220 million cubic meters of natural gas annually, and reduce carbon emissions by over 400,000 tonnes each year.

Marco Arcelli expressed ACWA Power’s strong commitment to supporting Azerbaijan in achieving its goal of sourcing 30% of its energy needs from renewables by 2030. He extended gratitude to the financing partners for their indispensable support.

Nandita Parshad, Managing Director of the Sustainable Infrastructure Group at EBRD, celebrated this remarkable achievement and reiterated their dedication to scaling up renewable energy, green hydrogen, and green desalination projects in the regions they serve.

ACWA Power’s unwavering commitment to spearheading the energy transition has resulted in numerous collaborations on clean energy projects in Azerbaijan. These encompass both offshore and onshore wind projects, along with a battery energy storage system. Furthermore, ACWA Power is actively exploring opportunities in renewable energy and green hydrogen in partnership with the State Oil Company of Azerbaijan Republic (SOCAR).

Share. LinkedIn Twitter Facebook Email

Related Posts

Hydrogen

EU–China Energy Diplomacy Amid German Hydrogen Retrenchment: A Deep Dive

02/07/2025
BESS

Merredin BESS Secures $220M Financing but Pays Premium over Global Battery Cost Benchmarks

02/07/2025
hydrogen

Brazil Stakes Claim in Global Hydrogen Race with €1.3B Investment in Uberaba and Açu Projects

02/07/2025
Hydrogen

Bremen Project Collapse Reveals Fragile Economics Behind Germany’s Green Hydrogen Hopes

02/07/2025
Hydrogen

The Hydrogen Heating Mirage: Why Germany’s “H₂-Ready” Promise Risks Locking in High Costs and Low Returns

02/07/2025
Battery

How Lyten’s Salvage Mission Could Upend Europe’s Battery Wars

02/07/2025
Hydrogen

EU–China Energy Diplomacy Amid German Hydrogen Retrenchment: A Deep Dive

02/07/2025
BESS

Merredin BESS Secures $220M Financing but Pays Premium over Global Battery Cost Benchmarks

02/07/2025
hydrogen

Brazil Stakes Claim in Global Hydrogen Race with €1.3B Investment in Uberaba and Açu Projects

02/07/2025
Hydrogen

Bremen Project Collapse Reveals Fragile Economics Behind Germany’s Green Hydrogen Hopes

02/07/2025

Subscribe to Updates

Get the latest news from the hydrogen market subscribe to our newsletter.

LinkedIn X (Twitter) Facebook YouTube

News

  • Inteviews
  • Webinars
  • Hydrogen
  • Spotlight
  • Regional

Company

  • Advertising
  • Media Kits
  • Contact Info
  • GDPR Policy

Subscriptions

  • Subscribe
  • Newsletters
  • Sponsored News

Subscribe to Updates

Get the latest news from EnergyNewsBiz about hydrogen.

© 2025 EnergyNews.biz
  • Privacy Policy
  • Terms
  • Accessibility

Type above and press Enter to search. Press Esc to cancel.