EIG, an institutional investor in the global energy and infrastructure sectors, and Saudi-listed Acwa, one of the world’s largest independent power producers, have agreed to establish Plenum Power, a strategic partnership focused on investment opportunities in the United States.
Building on an established relationship that includes prior collaboration on projects in the Middle East, EIG and Acwa are now partnering to pursue opportunities in the U.S. power sector through Plenum Power. The parties intend for Plenum Power to target a launch with an initial equity commitment of approximately $4 billion. The partnership combines Acwa’s global capabilities in developing, financing, constructing and operating large-scale infrastructure across conventional and renewable power generation and energy storage with EIG’s experience in sourcing, establishing, financing and scaling energy infrastructure platforms.
Plenum Power is being launched at a time when rising electricity
