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ACWA Power secures $240 million IFC loan for Uzbekistan’s RE projects

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ACWA Power has obtained a $240 million Islamic Equity Bridge Loan (EBL) from the International Finance Corporation (IFC) to support renewable energy initiatives in Uzbekistan.  The financing will facilitate the construction and operation of two projects: a 1 GW solar photovoltaic plant and a 668 MW battery energy storage system (BESS), along with approximately 500 km of high-voltage transmission lines.  These projects aim to reduce Uzbekistan’s greenhouse gas emissions by an estimated 1.3 million tonnes…

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ACWA Power grows renewable portfolio in Africa

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ACWA Power’s Redstone Concentrating Solar Power (CSP) plant in South Africa has synchronized 50 MW to the national grid, with full capacity expected to reach 100 MW shortly.  Developed in collaboration with Herlogas and SEPCOIII, the Redstone CSP is set to deliver clean energy to approximately 200,000 households, significantly curbing carbon emissions. Meanwhile, the Kom Ombo Photovoltaic (PV) plant in Egypt has achieved its full production capacity of 200 MW, supplying clean energy to over…

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Arctech secures 2.3 GW solar trackers in Saudi Arabia

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Arctech has signed a major supply agreement with China Energy Engineering Group Co., Ltd. to provide 2.3 GW of its 1P single-axis solar tracker system, SkyLine II, for the PIF4-Haden project owned by ACWA Power. This project, supporting Saudi Vision 2030, is expected to reach commercial operations by early 2027. SkyLine II’s innovative synchronous multi-point drive mechanism enables it to operate effectively in the strong winds typical of the desert site. Its modular design allows…