Riyadh, Saudi Arabia ACWA Power, the world’s largest private water desalination company and a pioneer in green hydrogen and energy transition, has announced its first half 2025 financial results, highlighting strong growth and expansion aligned with Saudi Vision 2030.
The company achieved an adjusted net profit of SAR 1,172 million, up 62% from the same period in 2024, driven by strong operations and new project developments.
Strong Operational and Financial Performance
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Operating profit surged 59% to SAR 2,207 million, fueled by higher development business, construction management services, and operational contributions.
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Adjusted net profit attributable to equity holders rose by SAR 449 million, despite a minor 1.9% drop in reported net profit due to an impairment charge in an affiliated company.
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3.3 GW of new power capacity and 600,000 m³/day of desalination capacity reached commercial operations in the first half of 2025.
Abdulhameed Al Muhaidib, CFO of ACWA Power, noted:
“Our strong pipeline, disciplined acquisitions, and successful capital raise reflect robust and resilient business performance. We are delivering value today while securing our leadership in global energy and water markets for tomorrow.”
Expansion in Power and Water Sectors
During the first half of 2025, ACWA Power:
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Signed nine Power Purchase Agreements (PPAs) totaling 20 GW of new capacity, including 15 GW in Saudi Arabia to support the national renewable energy program.
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Signed two Water Purchase Agreements (WPAs), adding 700,000 m³/day of future desalination capacity.
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Announced a Share Purchase Agreement (SPA) to acquire power and water assets in Bahrain and Kuwait, adding 4.6 GW of power and 1.1 million m³/day of water to its advanced development portfolio.
Marco Arcelli, CEO of ACWA Power, said:
“Our 2025 performance demonstrates scale, agility, and our commitment to building a cleaner, sustainable future. We expect to double in size over the next five years as we expand into new markets and deliver on our green energy mission.”
Capital Raise and Investor Confidence
A key milestone for the company was the successful SAR 7.125 billion capital raise via a Rights Issue, achieving a 96% subscription rate and nearly six times oversubscription. This reflects strong local and international investor confidence.
The capital increase also raised foreign ownership to 4.27%, further broadening ACWA Power’s global investor base and supporting its ambitious growth plans.
Driving Green Hydrogen and Global Expansion
Looking ahead, ACWA Power is focusing on:
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Developing a Green Hydrogen and Renewable Energy Export Corridor between Saudi Arabia and Europe, aligning with Vision 2030 and Europe’s decarbonization goals.
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Expanding into Southeast Asia, particularly Malaysia, exploring renewable energy, water, and hydrogen infrastructure investments.
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Reaching USD 250 billion in assets under management by 2030 through sustainable and high-impact projects.
With strong operational performance and a clear renewable energy and water strategy, ACWA Power is accelerating its role in powering economies and advancing global sustainability.
