Natixis Corporate and Investment Banking of France has signed an agreement to finance ACWA Power projects over the next two years – with a funding of up to $2 billion.
The MoU will allow both parties to “explore opportunities to develop new projects in the region,” the Saudi clean energy provider said in a bourse filing.
Paddy Padmanthan, chief executive officer of ACWA Power, said the agreement will allow them to expand “cost competitive financing solution” and access wider pools of liquidity for its projects.
Natixis has previously underwritten some of the Saudi-listed firm’s high-profile renewable projects, including the Sakaka solar project.