“We have not actually finalized the group of banks yet, but we are very advanced in structuring and work is being done internally…We would very much like to make sure it’s sustainability-linked.”

–Paddy Padmanathan, ACWA CEO, told Reuters in an interview that ACWA Power, which debuted on Saudi Arabia’s stock market on Monday, expects to finalize in the first quarter of next year billions of dollars in financing for a green hydrogen joint venture at the planned futuristic city NEOM. He added the project was “on track.” Roughly 20% of the $6.5 billion project will be funded with equity and the rest will be limited-recourse project finance, he said. [Reuters]