Acwa Power to Raise Stake in Power Generating Asset

08:38 AM EST, 12/24/2025 (MT Newswires) -- Saudi utility Acwa Power (SASE:2082) agreed to acquire an additional 32% stake in Shuaibah Water and Electricity for 843.3 million Saudi riyals. ACWA Power, through its Alwaha Projects Co. subsidiary, will purchase Water and Electricity Holding, or Badeel's, entire shareholding in Shuaibah Water and Electricity, according to a Wednesday release. Badeel is a unit of the Public Investment Fund. The closing of the deal, which raises Acwa Power's ownership interest in the power-generating asset to 62%, remains subject to regulatory approvals. The asset has a total production capacity of 900 megawatts of power and 880,000 cubic meters per day of desalinated water.