ACWA power announced that it is interested in buying Saudi Electricity Company (SEC) (5110.SE) assets from the potential government plan to spin-off SEC into a number of new firms, according to the director of acquisitions and project finance at ACWA Power, Pascal Martese. Once the government reaches the point of selling, ACWA power will be ready to evaluate the project and submit a “ good offer”, and to later supply the kingdom with the sufficient amount of electrical energy upon the completion of the acquisition, Pascal added, where he noted that the company is principally interested in all of SEC’s assets. The Saudi government had earlier announced plans of restructuring SEC through spinning-off of the company into six new companies and SEC’s assets would be distributed amongst them. The six companies would include: four power generation companies, one transmission and one distribution, where power generation companies would be offered to the private sector through the stock market or by partnering with local and global entities. ACWA Power is a Saudi-based company  that defines itself as being an  investor, developer, co-owner and operator of a portfolio of plants with a capacity to generate 18 GW of power and produce 2.5 million m3/day of desalinated water. (Argaam, Company Website)