Energy Markets
Saudi Arabia's ACWA Power will buy Engie's shares in Kuwait and Bahrain
Saudi Arabia's ACWA Power will buy assets in Kuwait and Bahrain from French utility developer Engie for $693 million, according to a statement released by the two companies on Wednesday. They said that the agreement covered operating capacities of 4,61 GW gas-fired electricity generation and 1,11 million cubic meters of water desalination. The report also included the operations and maintenance companies of Kuwait and Bahrain. Marco Arcelli, CEO of ACWA Power, said: "We consolidate the presence we have in Bahrain, where we're already a reliable provider of water and power, and enter Kuwait where we submitted a recent bid for...