ACWA POWER Co. Announces the completion of acquisition by JIGPC of the second group of assets from Aramco.

Element List	Explanation
Announcement Detail	ACWA POWER Co. announces the completion of the acquisition by Jazan Integrated Gasification and Power Company (JIGPC) of the second group of assets for the Jazan Integrated Gasification Combined Cycle (IGCC) project. JIGPC is a joint venture (JV) between Aramco, ACWA Power, Air Products and Air Products Qudra, with ACWA Power holding a 25% equity stake. This follows financial close of 18th October 2021. The project involves the acquisition of the US$12 billion IGCC plant from Aramco. The acquisition of the first group of IGCC assets has been completed on 27th October 2021.

Element List

Explanation

Announcement Detail

ACWA POWER Co. announces the completion of the acquisition by Jazan Integrated Gasification and Power Company (JIGPC) of the second group of assets for the Jazan Integrated Gasification Combined Cycle (IGCC) project. JIGPC is a joint venture (JV) between Aramco, ACWA Power, Air Products and Air Products Qudra, with ACWA Power holding a 25% equity stake. This follows financial close of 18th October 2021.

The project involves the acquisition of the US$12 billion IGCC plant from Aramco. The acquisition of the first group of IGCC assets has been completed on 27th October 2021.