ACWA Power CEO: We seek borrowing $10b annually to finance our projects

ACWA Power CEO, Paddy Padmanathan, said that the company needs to expand in hydrogen projects in two more countries beside the Kingdom.

He noted: “We expect gaining profits from selling green hydrogen starting from 2026.”

On finance, Padmanathan said that ACWA Power in a good financing position because of available credit lines and finances during the next period.

The hydrogen projects are being financed through stocks (20%) and bonds (80%).

“This means that we need more borrowing to finance the projects. For example, the green hydrogen project needs $5 billion of finance through bonds. Every year, we need to borrow $10 billion to finance this kind of business”, Padmanathan added.