ACWA Power plans to raise $8 billion of debt in the first half of this year to finance projects that will help to boost its generating capacity by a third by the end of 2016. Among the projects earmarked for ACWA's proposed new funding is the 1,200 megawatt (MW) Hassyan clean coal power plant in Dubai, which it is building in conjunction with China's Harbin Electric and with Alstom as the lead contractor. The $8 billion raised will also cover the Ibri/Sohar-3 scheme in Oman, in partnership with Japan's Mitsui & Co, as well as the 100 MW Redstone solar plant in South Africa.

Some of the money will also be used to help refinance debt against the Rabigh 1 power plant, run by Rabigh Electricity Co and part-owned by ACWA.