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Saudi ACWA Power shares stride higher after stock market debut

The company pulled in strong investor interest in its first quarter — even as it reported a net loss in its first-ever quarterly results.  ACWA Power has so far provided a good bet for investors seeking clean energy projects that align with the Kingdom’s efforts to diversify the economy.  On debut the stock recorded a 30-percent hike after striking Saudi Arabia’s first initial public offering exceeding $1 billion since the oil giant Aramco listed in 2019.

The homegrown company currently owns 66 projects and is a long-term operator of power generation and water desalination projects worldwide.

The company's recent strategy is part of the Kingdom’s transition to renewable energy in line with Vision 2030.

Read the full story at ZAWYA