ACWA Power, a leading developer, investor, and operator of power generation, desalinated water, and green hydrogen plants worldwide, and Natixis Corporate & Investment Banking (Natixis CIB), a subsidiary of Groupe BPCE, the second largest banking group in France, today signed a Memorandum of Understanding (MoU) stating their intention to collaborate on the advancement of ACWA Power's projects in the region.

The MoU was signed in Jeddah, Saudi Arabia, by Clive Turton, Chief Investment Officer of ACWA Power, and Anne-Christine Champion, Co-Head of Natixis CIB. It paves the way for the two parties to explore opportunities to develop new projects in the region, including in renewable and clean energy, with an objective for Natixis CIB to finance up to approximately USD 2 billion over two years for ACWA Power's future project pipeline.

Since 2005, ACWA Power and Natixis CIB's relationship has increasingly grown, and Natixis has underwritten a number of ACWA Power's high-profile projects such as Sakaka Solar PV IPP, DEWA IV CSP/PV Hybrid IPP, and DEWA V Solar PV IPP.

ACWA Power's mission is to reliably and responsibly deliver electricity and desalinated water at a low cost, thereby contributing effectively to the sustainable, social and economic development of communities and countries.