ACWA Power restructures debt and ownership in Turkish affiliate 

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RIYADH: Saudi utility giant ACWA Power has restructured debt and ownership at its Turkish subsidiary, converting outstanding loans into equity following an agreement with major creditors and minority shareholders. ACWA Guc, which operates a 950 megawatt combined cycle gas turbine power plant in Kirikkale, Turkey, is partly and indirectly owned by ACWA Power. According to a filing with the Saudi Stock Exchange, the deal involves lenders converting their loans into ACWA Guc shares based on specific share ownership agreements and conversion conditions.

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