David Crane joins Board of Directors of “ACWA Power”

He began his career in project finance and debt restructuring, at the international law firm of White & Case, working in its New York, Washington and Hong Kong offices. He then worked with ABB Energy Ventures as Vice President, heading its Asia Pacific operations, before becoming Senior Vice President of Lehman Brothers’ Global Power business, leading projects in Asian and Latin American emerging markets. Crane then joined International Power, an FTSE 250 listed company, as its COO & Executive Director, before becoming its CEO in 2003. David was recruited to lead NRG as it emerged from Chapter 11 bankruptcy protection in December 2003. Since that time, and under his leadership, NRG has transformed into an industry leader, a Fortune 250 company, and a member of the S&P 500.

Commenting on the appointment, Mohammed Abunayyan, Chairman of ACWA Power said: “David has demonstrated experience in the utilities sector spanning three different continents, and we’re confident that he will add valuable new perspectives to ACWA Power’s Board.”

“I’m honored to be joining ACWA Power and ACWA Power Guc at such an exciting juncture in their history. ACWA Power has quickly emerged as a global leader in large energy infrastructure projects in the Middle East and other parts of the world which are vibrant, critical and of great personal interest to me and my family. I hope to contribute my experience and expertise to assist ACWA Power, its Management and my fellow Directors as the company takes on new challenges, particularly in the area of renewable energy projects. I’m confident that we’ll continue to see, and indeed surpass, the growth that the company has enjoyed over the last few years,” said Crane.

ACWA Power is a developer, investor, co-owner and operator of a portfolio of power generation and desalinated water production plants currently with presence in 12 countries including in the Middle East and North Africa, Southern Africa and South East Asia regions. ACWA Power’s portfolio, with an investment value in excess of USD 30.5 billion (of which, over 16% is in renewables) can generate 21.5 GW of power and produce 2.5 million m3 /day of desalinated water.