ACWA Power to acquire Bahrain and Kuwait assets from Engie for $693m.

ACWA Power, a developer, investor, co-owner and operator of a portfolio of power generation and desalinated water production plants, agreed to acquire Bahrain and Kuwait assets from Engie, a French multinational electric utility company, for $693m. "This acquisition represents a pivotal milestone for ACWA Power, reinforcing our position as global leader in water desalination. We consolidate our presence in Bahrain where we are already a reliable supplier of power and water, and we enter Kuwait, where we recently submitted a bid for a large power and desalination plant. Reinforcing our presence in each country will allow us to further develop our people there and localise our operations more, providing safe and reliable supplies to the local communities and industries," Marco Arcelli, ACWA Power CEO.