By: Utilities Middle east

Saudi-listed ACWA Power, known for its leadership in water desalination and energy transition, has announced its financial results for the first half of 2025, showcasing a robust 62% increase in adjusted net profit, reaching SAR 1,172 million. However, the company’s reported net profit experienced a slight decline of 1.9% due to an impairment charge in an affiliated company.

The company’s operating income before impairment losses rose to SAR 2,207 million, driven by enhanced development business and construction management services. ACWA Power has made significant strides by signing nine Power Purchase Agreements (PPAs) for 20 GW of new power capacity, aligning with Saudi Arabia’s Vision 2030 renewable energy program. Additionally, two Water Purchase Agreements (WPAs) will add 700,000 cubic meters of desalination capacity daily.

ACWA Power’s recent Share Purchase Agreement (SPA) aims to acquire power and water assets in Bahrain and Kuwait, adding substantial capacity to its development portfolio. CEO Marco Arcelli emphasised the company’s growth and commitment to sustainability, aiming to double its size over the next five years.

“What we’ve achieved so far in 2025 is a testament to our scale, agility, and long-term partnerships. Our growing portfolio, backed by frameworks like our strategic partnership with PIF, our bold entry into new markets, and other long-term strategic agreements for future energy corridors, are all pillars of our commitment to building a cleaner, more sustainable future.” Mr. Arcelli added, “We have doubled in size over the past three years, and we expect to double again over the next five, as we continue delivering on our mission at greater scale and impact.”

Marco Arcelli, Chief Executive Officer of ACWA Power

The company completed a capital raise through a Rights Issue, generating SAR 7.125 billion, reflecting strong investor confidence. ACWA Power is also expanding into Southeast Asia, exploring opportunities in renewable energy and water infrastructure.

With strategic agreements in place, ACWA Power is poised for growth in green hydrogen and renewable energy exports, aligning with global decarbonization goals.