ACWA Power-led Consortium’s $2.4 Billion Al-Shuaibah Solar Projects Set to Energize Saudi Arabia
ACWA Power’s $2.4 billion Al-Shuaibah solar projects have brought Saudi Arabia’s renewable energy aspirations to the forefront. Led by ACWA Power, in collaboration with the Public Investment Fund (PIF) and Saudi Aramco subsidiaries, the financial closure signifies a significant step towards a sustainable energy future. With Al Shuaibah 1 and Al Shuaibah 2 solar PV projects boasting a combined capacity of over 2.6 GW, they hold the potential to power nearly 450,000 households and significantly reduce carbon emissions. The commitment of key financial institutions, like First Abu Dhabi Bank and Standard Chartered Bank, reflects the growing synergy between private and public sectors in advancing clean energy projects. As the projects gear up for commercial operations in 2025, Saudi Arabia’s position as a leader in the global renewable energy landscape is further solidified.
Explainer: The U.S. yield curve has been flattening – Why you should care
The U.S. Treasury yield curve has been flattening over the last few months as the Federal Reserve prepares to hike rates, and some analysts are forecasting more extreme moves or even inversion.
StanChart says Evergrande crisis doesn’t dent enthusiasm for China
By Lawrence White LONDON, Sept 23 (Reuters) – The crisis at indebted developer China Evergrande Group (3333. HK) will not curb Standard Chartered’s (STAN.L) appetite for investing in the country, its Chief Financial officer Andy Halford told a banking conference on Thursday. Asia, Middle East, and Africa-focused lender have no direct exposure to Evergrande and “negligible” indirect exposure, he told […]
South Korea’s youth debt binge shows no sign of slowing as rate hike looms
When South Korea announced new lending curbs last month, Joe Park, a 34-year-old grocery chain purchasing manager, scrambled to borrow more money before the tighter rules took effect.
