ACWA Power International announced that it has issued 89,500,000 common shares to new investor Sanabil Al-Saudia in a round of funding on January 12, 2013. The investor took 19.4% stake in the company. The financial details of the transaction were not disclosed. The investor is owned by Saudi Arabian Investment Company and Public Investment Fund and they will own own 13.72% and 5.71% stakes respectively in the company and will each be entitled to a seat on the company's board of directors. Morgan Stanley Saudi Arabia served as the sole placement agent to the company. Johannes Bruski and Monaji Zamakhchary from Allen & Overy LLP served as the legal advisors to the company.

On January 12, 2013, ACWA Power International closed the transaction.