Riyadh – Mubasher: The International Company for Water and Power Projects (ACWA Power) has inked a two-year Memorandum of Understanding (MoU) with Natixis Corporate and Investment Banking (Natixis CIB), a subsidiary of Groupe BPCE, to finance new projects.

Under the agreement, Natixis CIB will finance up to around $2 billion for ACWA Power's future project pipeline, according to a bourse filing on Monday.

The agreement's financial impact cannot be determined at this stage.

Since 2005, Natixis has supported a number of ACWA Power's projects, including Sakaka Solar PV IPP.