Saudi private energy developer Acwa Power announced on 23 June that the Chinese government’s Silk Road Fund has taken a 49% stake in the company’s Acwa Power RenewCo subsidiary for an undisclosed sum. Acwa Power RenewCo was established to own a number of Acwa’s renewables projects, including solar and wind plants in the UAE, South Africa, Jordan, Egypt and Morocco with a combined generating capacity of 1.67GW.

Acwa’s chief investment officer Rajit Nanda says...