ACWA Power Makes Senior Leadership Changes

• ACWA Power has announced the appointment of Kashif Rana as its chief portfolio management officer
• He will be responsible for the development and implementation of an effective portfolio-management strategy for the company's global portfolio
• Abdulhameed Al Muhaidib has been appointed as the company's new chief financial officer

Saudi Arabian renewable energy power generator and green hydrogen company ACWA Power has announced Kashif Rana to fully take over as the company's chief portfolio management officer, and appointed Abdulhameed Al Muhaidib as the new CFO.

The changes come after the management gave Rana the responsibility of looking for chief portfolio management after Rajit Nanda put in his papers, while the position of Deputy CFO was created for Muhaidib (see ACWA Power's Senior Leadership Changes).

As the company's dedicated Chief Portfolio Management Officer, Rana will be responsible for driving the development and implementation of an effective portfolio-management strategy for the company's expanding global portfolio, which now comprises over 60 projects in 13 markets.

Rana will also achieve optimal asset performance while maximizing return on investment, ensuring value creation while managing risk and maintaining adherence to contractual and regulatory commitments.

Muhaidib will be involved in all finance functions along with investor relations, insurance and shared services.

"Both Kashif Rana and Abdulhameed Al Muhaidib have an impressive track record of success across our business, and their contributions to ACWA Power in these new roles will continue to be unique and valuable to our shareholders, partners, employees and to the communities we serve," said ACWA Power's Vice Chairman and CEO Paddy Padmanathan.