ACWA Power restructures debt and ownership in Turkish affiliate 

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RIYADH: Saudi electricity giant ACWA Power has restructured debt and ownership in its Turkish subsidiary and converted outstanding loans into equity after reaching an agreement with major lenders and minority shareholders. ACWA Guc, which operates a 950 MW combined cycle gas turbine power plant in Kirikkale, Turkey, is partially and indirectly owned by ACWA Power. According to a statement on the Saudi Stock Exchange, the deal involves lenders converting their loans into ACWA Guc shares based on specific shareholding agreements and conversion conditions.

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