PIF-owned ACWA Power to become a net zero energy producer, CEO says

PIF-owned ACWA Power to become a net zero energy producer, CEO says

The head of ACWA Power, Saudi Arabia’s only listed company with ambitious renewable projects, plans to end investment in non-renewable schemes as part of the business’s commitment to reaching net zero by 2050.

 

Speaking ahead of the Saudi Green Initiative forum that will be held in Riyadh on October 23, Paddy Padmanathan, chief executive of ACWA Power, which floated on the Kingdom’s stock exchange earlier this month, told Arab News: “We want to reduce carbon emissions, because climate change is real. We can see it, we can feel it.”