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ACWA Power secures $100m credit facility from China Construction Bank to scale up operations

In an effort to boost its operations, Saudi energy firm ACWA Power secured USD 100 million in a revolving credit facility from China Construction Bank. Engaged in collaboration with the Chinese bank since 2016, ACWA Power signed the three-year revolver agreement to scale up its power generation and water desalination portfolio in the Middle East, Uzbekistan, and Kazakhstan. China Construction Bank’s senior bank executive said, “The credit facility is reflective of the branch’s interest to strengthen its strategic partnership with ACWA Power and to promote the development of renewable energy projects in line with the directives of the Belt and Road Initiative.”