in power-technology.com: Saudi Arabia-based energy company ACWA Power has signed a share purchase agreement with the regional subsidiary of French utility developer ENGIE to acquire assets located in Bahrain and Kuwait valued at $693m. The acquisition includes 4.61GW of gas-fired power generation and 1.11 million cubic metres per day of water desalination facilities. ACWA Power will acquire ENGIE’s shares in four key operating assets. The Bahrain assets are an 18% stake in the Az Zour North in Kuwait, 45% stakes in both the Al Ezzel and Al Dur projects, and a 30% stake in the Al Hidd facility. The expansion aligns with ACWA Power’s strategy to triple its assets under management to $250bn by 2030.
