ACWA Power signs MoU with Saudi EXIM Bank

ACWA Power signs MoU with Saudi EXIM Bank

Riyadh, KSA: ACWA Power,a leading developer, investor and operator of power generation, desalinated water and green hydrogen plants, signed a Memorandum of Understanding (MoU) with Saudi Export-Import Bank (Saudi EXIM), in an extensive agreement that involves knowledge transfer in the realm of credit issuance, with the objective of facilitating and growing Saudi exports and overseas investments by Saudi institutions and organisations.

The MoU will also bolster the growth of local content and Saudi exports in international projects and capital investments overseas, which will, in turn, create new jobs and foster economic growth within the Kingdom and beyond.

His Excellency Eng. Saad bin Abdulaziz Al-Khalb, CEO of Saudi EXIM, said: “Saudi EXIM is working to expand its partnerships with local and international entities to support and diversify innovative financing products and credit solutions that meet the objectives of our partners and beneficiaries. These developments will enhance the competitiveness of Saudi products, increase the economic impact of non-oil exports on the GDP, and reinforce the growth of the alternative economy in support of the Vision 2030 goals of building a prosperous and sustainable economy.”

Commenting on the occasion, Mohammad Abunayyan, Chairman of ACWA Power, said: “As a Saudi national champion with extensive expertise in project