BAKU, Azerbaijan, April 23. ACWA Power has secured a SAR 750 million ($200 million) Shariah-compliant term loan facility from Alinma Bank to finance the construction of its new corporate headquarters in Riyadh, Trend reports.
The seven-year facility highlights the company's strong financial position and strategic role in advancing Saudi Arabia’s Vision 2030 and energy transition objectives.
The agreement was signed by Abdulhameed Al Muhaidib, Chief Financial Officer of ACWA Power, and Jameel Alhamdan, Chief Corporate Banking Officer at Alinma Bank.
"Alinma is proud to announce its role as the sole financier for the development of ACWA Power’s new state-of-the-art, environmentally sustainable head office," said Jameel Alhamdan. "This landmark project aligns with both organizations’ commitment to driving sustainability and innovation in the corporate sector, and with the Kingdom’s net zero strategy."
Commenting on the agreement, Abdulhameed Al Muhaidib noted: "This financing from Alinma Bank highlights our strong financial position and the confidence the market has in our vision. Our new headquarters will be more than just a building; it will be a symbol of our commitment to innovation, sustainability, and the Kingdom's ambitious goals for a cleaner, more prosperous future."
The new headquarters is designed to unify ACWA Power’s operations and foster collaboration across teams. The facility will provide a sustainable working environment that supports employee performance and aligns with broader environmental goals, contributing to efforts to attract and retain top talent.