World

Acwa, EIG plan $4bn equity investment in US power venture

Saudi Arabia’s Acwa and US-based EIG Management Co. have launched a joint venture named Plenum Power, targeting an initial equity commitment of $4 billion for US power generation and energy storage investments. With Acwa holding a 49% stake and EIG 51%, the partnership aims to leverage their combined expertise to capitalize on growth in the evolving US power market.