ACWA POWER

Company Overview

ACWA Power is the first company to move forward in the green hydrogen industry in the nation. The company’s portfolio includes 81 operational projects in 12 countries and offices in 14 countries across the globe. The company has most of its assets in Saudi Arabia, with a significant presence in the Middle East and Central Asia. Its renewables segment comprises PV, CSP, wind plants and green hydrogen. The company specializes in the development, investment, operation and maintenance of power generation, green hydrogen production plants, water desalination and bulk sale of electricity, desalinated water, green hydrogen and/or green ammonia to address the needs of state utilities and industries on long-term, offtake contracts in the Kingdom of Saudi Arabia and internationally.

The company has the capacity to generate 55 GW of power and produce 7.6 million m3/day of desalinated water per day. In 2023, the company announced its growth strategy ACWA Power 2.0, through which it plans to triple its assets to management to $250 billion by 2030. By the end of 2023, the company had filed 15 patents in desalination, green hydrogen and solar PV.

Financial Highlights (FY 2024)

Company's Business Segments

• Thermal and Water Desalination : The term Thermal refers to the power and water desalination plants which use fossil fuel (oil, coal, gas) as the main source of fuel for the generation of electricity and production of water whereas Water Desalination refers to the stand-alone reverse osmosis desalination plants. The segment includes all four parts of the business cycle of the business line (i.e., develop, invest, operate and optimize). These plants include IPPs (Independent Power Plants), IWPPs (Independent Water and Power Plants) and IWPs (Independent Water Plants).
• Renewables : This includes the Group’s business line which comprises of PV (Photovoltaic), CSP (Concentrated Solar Power), Wind plants and Hydrogen. The segment includes all four parts of the business cycle of the business line (i.e., develop, invest, operate and optimise)
• Other : This includes the results of the ACWA Power reinsurance business.