ACWA signs financing deal with Natixis for up to US$2bn of projects

Facebook
Twitter
LinkedIn
Reddit
Email
Natixis has previously underwritten solar projects from ACWA. Image: ACWA Power.

Saudi solar developer ACWA Power has signed a memorandum of understanding (MoU) with Natixis Corporate & Investment Banking (Natixis CIB) that will see the partners explore opportunities to develop projects, including renewable energy plants.

It is expected that Natixis CIB, a subsidiary of French bank Groupe BPCE, will finance up to US$2 billion over two years for ACWA Power’s future project pipeline. 

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The agreement continues a relationship between the two partners that has previously seen Natixis underwrite ACWA Power solar projects including the 300MW Sakaka plant in Saudi Arabia and the 900MW fifth phase of the Mohammed bin Rashid Al Maktoum park in Dubai.

Natixis CIB also acted as financial advisor and joint bookrunner for ACWA Power’s recent initial public offering, in which it raised US$1.2 billion. Proceeds from the listing will be used to fund ACWA’s future projects in the energy and water desalination sectors over the next five years.

“This MoU signed today demonstrates our shared commitment to advancing the renewable energy and decarbonisation ambition in the markets we serve by expanding cost-competitive financing solutions,” said Paddy Padmanathan, CEO of ACWA Power.

The deal follows ACWA signing a US$125 million facility with development bank Arab Petroleum Investments Corporation (APICORP) earlier this year to support the growth of its renewables portfolio, while months later it secured US$114 million to fund the construction of a 200MW solar plant in Egypt.

ACWA Power was one of the shortlisted bidders in Saudi Arabia’s latest solar tender for 1.2GW of capacity, which featured a rise in prices compared to previous tenders in the country.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.

Read Next

October 8, 2025
Despite policy headwinds on the federal level, there is optimism for the future of the US solar and storage sector.
October 8, 2025
Officials from Norway and Egypt have agreed provisional terms for the financing of the Dandara solar park in Egypt, which is being built and operated by Norwegian IPP Scatec.
October 7, 2025
OpenSolar has secured US$13.1 million in equity financing from technology investors, including Titanium Ventures, Google and others.
October 7, 2025
Doral Renewables has secured a PPA with an unnamed 'corporate buyer' for its 430MW Cold Creek solar-plus-storage project in Texas.
October 6, 2025
US utility AES Corporation is reportedly in discussions to be acquired by Global Infrastructure Partners (GIP), a subsidiary of global asset owning giant BlackRock.
October 3, 2025
SunStrong Management has raised US$900 million to refinance a 'large portfolio' of residential solar assets developed by SunPower.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK