ACWA Power Expands Global Footprint with $107 Billion Portfolio
ACWA Power has reported continued momentum in its international growth strategy, reinforcing its position as a global leader in renewable energy and desalination. By the close of Q1 2025, the company’s portfolio encompassed 101 projects across 14 countries, representing managed assets worth SAR 403 billion (USD 107.4 billion).
According to its latest financial update, ACWA Power’s total generation capacity now stands at 78.9 GW, including 37 GW from renewables, supported by 5.3 GWh of battery storage capacity. On the water side, its operations deliver 9.5 million cubic meters of desalinated water daily, while also producing 1.2 million tons of green ammonia per year.
Expanding Global Reach
The company is actively bidding and securing projects worldwide. In Kuwait, ACWA Power has submitted a proposal for the Al Zour North Independent Water and Power Project, designed to supply 2.7 GW of electricity and 540,000 cubic meters of desalinated water per day. Meanwhile, in Azerbaijan, it has won a competitive tender to develop the nation’s first large-scale seawater reverse osmosis desalination plant with a daily capacity of 300,000 cubic meters.
Accelerating Vision 2030 Projects in Saudi Arabia
Domestically, ACWA Power is progressing with several strategic initiatives aligned with Saudi Arabia’s Vision 2030 target of generating 130 GW from renewables. Notable milestones include a 25-year power purchase agreement for a 3 GW expansion at Qurayyah Independent Power Plant, and a parallel 25-year water purchase agreement for the Ras Mohaisen Independent Water Plant, which will supply 300,000 cubic meters per day using reverse osmosis technology.
Strong Presence in Egypt and Beyond
In Egypt, the company recently secured a 25-year PPA for a 2 GW wind energy project. ACWA Power is also preparing to make its first entry into the Kuwaiti market while strengthening its presence in Bahrain through the acquisition of shares in four operational plants from Italy’s ENGIE. This deal will add 4.6 GW of power capacity and 1.1 million cubic meters per day of desalinated water to its portfolio.
Driving Sustainable Growth
Commenting on the results, Marco Arcelli, CEO of ACWA Power, emphasized the company’s dual focus: ensuring reliable future revenues while enhancing current financial performance through efficient project development, construction, and procurement management. He underscored ACWA Power’s growing role in advancing sustainability and building resilient capabilities in both energy and water.
