RIYADH: ACWA Power, a listed Saudi developer, investor and operator of power generation, water desalination and green hydrogen plants, said in a statement that it’s appointing new executives while its Chief Portfolio Management Officer is stepping down.
ACWA Power brought on board Clive Turton as Chief Investment Officer. Turton joined ACWA Power from Vestas, where he served as President for the Asia- Pacific, or APAC, region. During his tenure, he oversaw operations of 3,500 employees and grew Vestas’ operations in markets like India, Vietnam, Australia, Sri Lanka, Taiwan, and Japan.
Abdulhameed Muhaidib, currently the Executive Managing Officer of Noor Energy in the United Arab Emirates, will assume a newly created position of Deputy CFO starting from March 1, 2022. He has over 13-years of experience with ACWA Power, and is currently managing one of the most technically complex and largest projects that the company has undertaken in its history, according to the statement.
Rajit Nanda, the company’s Chief Portfolio Management Officer, is stepping down from his role in January 2022, to pursue other interests, the company said. Kashif Rana, ACWA Power’s Chief Financial Officer, who has held this position for over 8 years, will take over the portfolio management role, while remaining the CFO.
Commenting on the leadership changes, Paddy Padmanathan, President and Chief Executive Officer of ACWA Power said: “As a company, we have always believed in investing in exceptional people and seek talent who share our vision and passion to succeed. Rajit is certainly such a person who has played a pivotal role in driving ACWA Power’s growth and success during his tenure, initially as CFO, then as CIO and finally as CPMO. We wish him the very best for the future.
“I am also delighted to welcome Clive and Abdulhameed into the executive management fold. Both bring a wealth of experience spanning various disciplines to further strengthen the extraordinarily ambitious, talented and capable senior leadership team, who in turn lead the ACWA Power family comprised of over 3500 committed, passionate, entrepreneurial and enthusiastic professionals. I look forward to working with them as we execute our strategy of leading energy transition globally with both renewable energy and green hydrogen and deliver desalinated water to an increasingly thirsty world,” he added.