Middle East Economic Survey

VOL. LIV

No 35

29-Aug-2011

SAUDI ARABIA

ACWA Power Completes Sale Of Enara Minority Stake To IFC

ACWA Power International, the Saudi water desalination and power generation company, announced the completion of the sale of a minority stake in Enara Energy Investments to International Finance Corporation (IFC), a member of the World Bank Group, on 22 August. According to the agreement, IFC invested around $10.5mn for the equity in Enara. ACWA now owns 65% of Enara,...