RIYADH: Saudi energy giant ACWA Power has restructured debt and ownership of its Turkish subsidiary, converting outstanding loans into equity following an agreement with major lenders and minority shareholders. ACWA Guc, which operates the 950 megawatt gas turbine power plant in Kirikkale, Turkiye, is partially and indirectly owned by ACWA Power. The deal involves lenders converting their loans into shares in ACWA Guc based on specific shareholder agreements and conversion terms, according to a statement on the Saudi stock exchange.
