FII Institute PRIORITY Summit to Be Held in US on February 22-23

FII Institute PRIORITY Summit to Be Held in US on February 22-23
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FII Institute PRIORITY Summit to Be Held in US on February 22-23

FII Institute PRIORITY Summit to Be Held in US on February 22-23

Leaders from across the world, and across the political spectrum will gather in Miami for the Future Investment Initiative PRIORITY Summit on February 22 and 23.

The event will bring together 1,000 investors, business leaders and policy experts at a time of heightened global tensions.

With the world experiencing an array of immediate and long-term risks, including geopolitical tension, contested elections, polarized discourse, climate concerns, AI threats and economic headwinds, the FII Institute is convening an international summit to encourage the mobilization of investment as a force for good.

The summit, held under the theme “On the Edge of a New Frontier”, will address the changing economic, social and political realities, and the issues that are of concern to citizens the world over. Discussions will include the digitization of every economic sector, investor outlook, climate tech, the new AI ecosystem, innovations for better urban environments, and the forthcoming US elections.

Over one hundred luminaries from finance, business and government are due to speak, including Michael Dell, Founder, Chairman, & CEO, Dell Technologies; Larry Summers, President Emeritus, Harvard University & Board Member at OpenAI; Jennifer Johnson, President & CEO, Franklin Templeton; Pamela Liebman, President and CEO, The Corcoran Group; Julie Sweet, Chair and CEO, Accenture; Tom Vice, CEO, Sierra Space; Magda Wierzycka, Sygnia Ltd; Josh Harris, Founder, 26North and Managing Partner, Washington Commanders; Dr Chloé Bakalar, Chief Ethicist, Responsible AI, Meta; Caroline Yap, Managing Director, Global AI Business, Google; and Todd Boehly, Co-Founder, Chairman & CEO, Eldridge Industries

The Future Investment Initiative’s (FII) Founding Partner, the Public Investment Fund of Saudi Arabia, will be joined by 25 Strategic Partners, including international companies Pepsico, Franklin Templeton, HSBC, Softbank Vision Fund, Standard Chartered, Straight Street, and GFH Financial Group. Strategic Partners support the ongoing work of the institute.

The FII Institute conducts ongoing research to identify the issues that matter to citizens worldwide. This year’s polling sampled 50,000 people from 23 countries to identify humanity’s priorities. The findings are used to shape FII’s policy agenda and program of summits.

This year’s research revealed a dramatic global drop of 20% in satisfaction levels, and discontent across a range of issues, including cost of living, loneliness, technology, and climate concerns. Meanwhile, 62% of respondents in the United States say their government is not doing enough to regulate the impact of emerging technology on society.

FII PRIORITY Summit Miami continues conversations held in Hong Kong and Riyadh in fall 2023. It is part of an ongoing global program of summits held next in forward looking global cities throughout the year, with summits coming up in Rio de Janeiro and Nairobi in the spring and summer.

Miami has been chosen for its vibrancy, diversity, economic significance, and its role as a vital link between continents, economies, and societies.

Richard Attias, CEO of the Future Investment Initiative Institute said: “This year marks an historic moment with nearly half of the world’s population participating in national elections in 2024, underscoring the significance of citizen priorities and leaders’ effective responses to them.”

“The choices made by leaders in government and investment during this period will have far-reaching consequences for global peace, prosperity, and stability and I am delighted that over 1,000 leaders will spend time in Miami deliberating on those issues that matter to the world,” he added.



ACWA Power Reports 44% Surge in Q1 Profit to $113.8 Million

A wind turbine at the Suez Energy Project. (ACWA Power)
A wind turbine at the Suez Energy Project. (ACWA Power)
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ACWA Power Reports 44% Surge in Q1 Profit to $113.8 Million

A wind turbine at the Suez Energy Project. (ACWA Power)
A wind turbine at the Suez Energy Project. (ACWA Power)

Saudi energy and water developer ACWA Power reported a 44% year-on-year increase in net profit for the first quarter of 2025, reaching SAR 427.15 million ($113.8 million), according to a disclosure filed with the Saudi Stock Exchange (Tadawul).

The company attributed the strong performance primarily to higher total revenues, an increase in other operating income before impairment and other charges, a reduction in impairment expenses, and a rise in deferred tax balances. These gains were partially offset by increased costs in project development, general and administrative expenses, and financing charges.

ACWA Power’s revenue rose 57% in the quarter, reaching SAR 1.97 billion ($525.2 million), supported by growth across development and construction management services, operation and maintenance contracts, and electricity sales.

In a letter to investors, CEO Marco Arcelli emphasized that the company maintained strong momentum in developing new projects across all sectors during the first quarter.

These initiatives not only lay the foundation for stable future revenues and cash flows, but also contribute to earnings from procurement and construction management, reinforcing the company’s commitment to financial and operational growth, he noted.

Arcelli expressed optimism about the company’s long-term outlook, highlighting ongoing efforts to strengthen project development pipelines, improve procurement strategies, and streamline construction execution.

ACWA Power is building a solid platform for consistent and sustainable growth while remaining focused on delivering its strategic objectives, he stressed.

Among the company’s most significant recent projects are several in renewable energy and water. In the solar sector, ACWA Power is developing the Al-Muwayh solar power plant in Saudi Arabia with a capacity of 2,000 megawatts and an investment of approximately SAR 35 million. The plant is scheduled to begin operations under a long-term power purchase agreement starting in 2027.

The company is also working on the Al-Khushaybi solar plant, with a capacity of 35 megawatts.

In wind energy, ACWA Power is constructing the Bash wind farm in Uzbekistan, a 500-megawatt project expected to be operational in the first quarter of 2025. Another wind project in collaboration with Uzbekistan’s national energy company will have a capacity of 65 megawatts and is also scheduled for completion in 2025.

In the water sector, ACWA Power owns a 40% stake in the Taweelah desalination plant in the United Arab Emirates, one of the largest facilities of its kind with a daily capacity of 3 million cubic meters. The company also holds a 35% share in the Sudair solar project in Saudi Arabia, which will generate 1,500 megawatts of electricity.

ACWA Power has expanded its international footprint with recent acquisitions, including an 85% stake in Yanghe New Energy Technology in China. The company also acquired strategic assets in Egypt and Kuwait and is actively entering new markets while expanding its presence in existing ones.

The company continues to prioritize innovation and R&D, particularly in solar and wind energy, green hydrogen, and energy storage. It is advancing new projects, increasing energy sales, and strengthening its global presence through strategic partnerships, including collaborations with Italian firms and others in Africa and East Asia.

ACWA Power has also launched a new research and development center in Shanghai as part of its international growth strategy.