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ACWA Power Signs JV Agreement With EIG For U.S. Power Infrastructure Investments

By Reuters News

Oct 29 (Reuters) - ACWA POWER 2082.SE:

  • SIGNS JOINT VENTURE AGREEMENT WITH EIG FOR U.S. POWER INFRASTRUCTURE INVESTMENTS

  • ACWA WILL HOLD A 49% INTEREST AND EIG WILL HOLD A 51% INTEREST.

  • JV AGREEMENT ESTABLISHING A STRATEGIC PARTNERSHIP TO PURSUE ACQUISITIONS, DEVELOPMENT OF POWER GENERATION AND ENERGY STORAGE ASSETS IN US

  • CAPITAL DEPLOYMENT WILL REMAIN SUBJECT TO AGREED GOVERNANCE, INVESTMENT CRITERIA AND APPROVAL OF SPECIFIC TRANSACTIONS

  • CAPITAL DEPLOYMENT WILL REMAIN SUBJECT TO AGREED GOVERNANCE, INVESTMENT CRITERIA AND APPROVAL OF SPECIFIC TRANSACTIONS

  • CONTRACT DURATION: LONG-TERM STRATEGIC PARTNERSHIP UNDER A PERPETUAL CONTRACT

  • UNDER JV AGREEMENT, PARTNERSHIP WILL EVALUATE ACQUISITION AND ORGANIC DEVELOPMENT OPPORTUNITIES IN U.S. POWER INFRASTRUCTURE

  • SIGNING OF AGREEMENT IS NOT EXPECTED TO HAVE A MATERIAL FINANCIAL IMPACT ON ACWA

  • IMPACT OF ANY FUTURE TRANSACTION WILL BE ASSESSED AND ANNOUNCED SEPARATELY

Further company coverage: 2082.SE

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