Aljomaih Energy and Water Company agreed to acquire 32% minority stake in Shuqaiq Water and Electricity Company from ACWA POWER Company (SASE:2082) on September 7,2021. In related transaction ACWA POWER Company also sold it's stake in operations and maintenance contract operated by it's subsidiary. The Combined deal value for the sale was Approximately SAR 390 million.

As per the terms of the transaction The proceeds will be used for general corporate purposes.