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ACWA Power

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Namestring
ACWA Power
Legal namestring
ACWA Power Company
Company typeenum
Public
Founded yearint
2004
Descriptiontext

ACWA Power Company (Saudi Exchange: 2082) is a Riyadh-headquartered, Saudi-listed developer-investor-operator of utility-scale power generation, water desalination, and green hydrogen infrastructure, with 110 assets across 15 countries, 98.0 GW of generation capacity, 9.8 million m³/day of desalination capacity, and 124.4 billion USD of assets under management. The company is recognized as the world's largest private water desalination company and a first-mover in green hydrogen at scale, anchored by the US$8.5 billion NEOM Green Hydrogen Project and the Yanbu Green Hydrogen Hub joint development with EnBW. Its core technology stack spans combined-cycle gas turbines, utility-scale solar PV, onshore wind, concentrated solar power with molten-salt thermal storage (e.g., 100 MW Redstone CSP with 12-hour storage), battery energy storage systems (BESS), seawater reverse osmosis desalination (world-record 2.9 kWh/m³ at Hassyan), and electrolysis-based green hydrogen and ammonia production, with AI used for predictive maintenance and energy optimization.

ACWA Power operates a fully integrated developer-investor-operator business model. It originates and structures projects, invests its own equity alongside sovereign co-investors (PIF/Badeel, Saudi Aramco/SAPCO, Danantara, MIDA, MIC, PT Pertamina, IFC, OPEC Fund, Sumitomo, Chubu, Shikoku), and operates the assets through its wholly-owned subsidiaries NOMAC (O&M) and ACWA Field Services / NMES (rotating-equipment field services). Revenue is generated through (i) equity returns from long-term 20-35 year inflation-indexed, availability- and output-based PPAs and WPAs with sovereign off-takers (approximately 85% of revenue is sovereign-backed); (ii) project development fees recognized at financial close; and (iii) O&M and field service fees from in-house NOMAC/NMES to both ACWA's portfolio and third-party utilities.

The company is 50%-owned by Saudi Arabia's Public Investment Fund (PIF), which has committed to allocate 70% of the Kingdom's renewable energy targets to ACWA Power under the National Renewable Energy Program. With 4,000+ employees across 13 offices and an MSCI ESG rating of 'A' (upgraded May 2026), ACWA Power is positioning itself as a global integrated energy-water-hydrogen platform pursuing US$250 billion AUM by 2030.

Short descriptiontext

ACWA Power is a Saudi-listed developer, investor, and operator of utility-scale power, water desalination, and green hydrogen infrastructure across 15 countries. Its 110-asset portfolio delivers 98.0 GW of capacity and 9.8 million m³/day of desalinated water under long-term sovereign-backed PPAs and WPAs.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
1,001–5,000
akta.pro rankint
HeadquartersRiyadh, Saudi Arabia
HQ citystring
Riyadh
HQ countrystring
Saudi Arabia
HQ regionstring
Middle East
Markets served

Serves global market

Offices3 records

Each record includes

City, Country, Type, Description, Source

Keyword5 values
power generation, water desalination, renewable energy, green hydrogen, utility infrastructure
Industry6 codes
1Wind Power Plant EPC (Onshore/Offshore)
CodeEUAEAAAFPrimaryYes
2Utility-Scale Power Generation Asset Management
CodeEUAEAMAAPrimaryNo
3Incentives, Grants & Program Administration (Auctions, Tenders, IRA/ITC/PTC Advisory)
CodeEUAMAAAJPrimaryNo
4Site Preparation & Civil Works (Clearing, Grading, Earthworks, Roads)
CodeEUAMAFAAPrimaryNo
5Electrical Balance-of-Plant EPC (MV Collection, Cabling, Earthing, Lighting)
CodeEUAEADABPrimaryNo
6Wind Balance-of-Plant EPC (Crane Pads, Turbine Foundations, Internal Roads)
CodeEUAEADAIPrimaryNo
NAICS code4 codes
  • Electric Power Generation22111
  • Wind Electric Power Generation221115
  • Hydroelectric Power Generation221111
  • Solar Electric Power Generation221114
SIC code1 code
  • Electric Services4911
Product category
Utility-scale power generation and water desalination infrastructure
Social media profiles1 record
GTM motion1 record

Each record includes

Type, Description, Source

Revenue model3 records
1Long-term equity returns from IPP/IWPP ownership
TypeSubscription Recurring
Description

Majority of revenue (~85% secured by sovereign-backed contracts) comes from equity stakes in utility-scale power, water, and hydrogen projects operating under inflation-indexed Power Purchase Agreements (PPAs) and Water Purchase Agreements (WPAs) typically spanning 20-35 years, generating availability-based or output-based revenue.

businessmodelcanvastemplate.com
2Project development fees
TypeProfessional Services
Description

Development fees earned from originating, structuring, and arranging project finance for new utility-scale infrastructure projects; recognized upon financial close.

businessmodelcanvastemplate.com
3Operation & Maintenance (O&M) service fees
TypeManaged Services
Description

O&M service fees from in-house subsidiary NOMAC (NOMAC Maintenance Energy Services / ACWA Field Services / NMES), providing operations, maintenance, and field services across ACWA's portfolio and to third-party IPPs/utilities.

businessmodelcanvastemplate.com
Marketing channels7 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels3 records

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components6 values
Infrastructure, Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales
Pricing details2 tiers
1Long-term availability-based PPAs/WPAs with sovereign off-takers
ModelOutcome Based/ PerformanceBilling cadenceMulti-year contract
Notes

Typical contract tenor 20-35 years; inflation-indexed; ~85% of revenue secured by sovereign-backed contracts

businessmodelcanvastemplate.com
2Record-low renewable and desalination tariffs
ModelUnit PricingBilling cadenceMulti-year contract
Notes

Solar PV below 1.04¢/kWh; SWRO at approximately 36 cents per cubic meter (one of the lowest globally)

businessmodelcanvastemplate.com
GTM typeB2B
B2B
Offering typeServices
Services
Brand1 of 3 records shown
1ACWA Operations
Description

Wholly owned operations and maintenance platform that plays a role in every stage of ACWA Power's business model.

acwapower.com
+2 more records
Core offering1 text field

ACWA Power develops, invests in, co-owns, and operates utility-scale power generation, water desalination, and green hydrogen infrastructure projects, holding equity in 110 assets across 15 countries with 98.0 GW of generation capacity and 9.8 million m³/day of desalination capacity. Revenue is secured primarily through long-term availability- and output-based Power Purchase Agreements (PPAs) and Water Purchase Agreements (WPAs) with sovereign off-takers, with the company also earning development fees at financial close and O&M service fees through its in-house NOMAC subsidiary and NMES field services arm.

Differentiator
Functional benefit
Problem solved
Quantifiable outcome1 of 8 values shown
  • Solar PV tariffs reduced by 83% over the past decade, desalination tariffs reduced by 58%
+7 more records
Product overview1 text field

ACWA Power operates a platform-plus-modules architecture across an integrated portfolio of utility-scale power generation, water desalination, and green hydrogen infrastructure - rather than a single software product. Its core offering is the end-to-end development-investment-operation of power and water assets (110 assets across 15 countries, 98.0 GW capacity, 9.8 million m³/day of desalination, 1.2 m MTPA NH₃ capacity, USD 124.4 billion AUM), delivered under long-term PPAs/WPAs. The named products include: (1) the integrated energy/water/hydrogen portfolio itself; (2) Acwa Operations (NOMAC) - wholly-owned O&M platform; (3) Acwa Field Services (NMES) - rotating-equipment on-site maintenance; (4) the Green Hydrogen & Green Ammonia project platform anchored by NEOM and Yanbu; (5) SWRO desalination plants; (6) Combined-Cycle Gas Turbine (CCGT) power plants; (7) Concentrated Solar Power (CSP) plants with thermal storage; (8) Solar PV + BESS hybrid plants; and (9) Onshore wind projects. These modules fit together via a unified developer-investor-operator business model: project development and equity investment originate assets, while Acwa Operations and Acwa Field Services provide long-term O&M, and Thinkproject provides the connected data foundation across the portfolio.

Product and service9 records
1Integrated Energy, Water and Green Hydrogen Portfolio
CategoryCore platform - integrated power generation, desalination, and green hydrogen development/investment/operation
Description

Flagship integrated offering spanning power generation (98.0 GW across 110 assets in 15 countries), water desalination (9.8 million m³/day), and green hydrogen at scale (1.2 MTPA NH₃ capacity), delivered through long-term PPAs/WPAs and BOO/BOOT models with sovereign-backed offtakers.

2ACWA Operations (NOMAC)
CategoryOperations & maintenance subsidiary - wholly-owned platform
Description

Wholly-owned operations and maintenance (O&M) platform delivering availability above contracted levels across ACWA Power's power, water, and desalination portfolio, preserving residual asset value and serving as a primary source of stable, high-visibility cash flows.

3ACWA Field Services (NMES / NOMAC Maintenance Energy Services)
CategoryField services arm - rotating equipment maintenance & on-site solutions
Description

ACWA Power's internal long-term service agreement (LTSA) and field service provider offering advanced workshop-level capabilities on-site, including rotor unstacking/restacking, laser welding, precision machining, on-site balancing/inspection, NDT, and component replacement for IPPs and government utilities.

4Green Hydrogen & Green Ammonia Project Platform
CategoryStrategic growth pillar - first-mover green hydrogen development
Description

First-mover green hydrogen and ammonia production platform with 1.2 MTPA NH₃ target capacity, anchored by the NEOM Green Hydrogen Project (US$8.5 billion financial close) and the Yanbu Green Hydrogen Hub (JDA with EnBW, commercial operations by 2030).

5Seawater Reverse Osmosis (SWRO) Desalination Plants
CategoryCore technology - solar-powered desalination at world-record efficiency
Description

Utility-scale seawater desalination plants using SWRO technology, including Hassyan (818,000 m³/day at 2.9 kWh/m³ record efficiency with DEWA), Rabigh 3 IWP (600,000 m³/day, >99% availability), and Grande-Côte Senegal (400,000 m³/day, fully renewable-powered).

6Combined-Cycle Gas Turbine (CCGT) / Gas-Fired Power Plants
CategoryCore technology - dispatchable thermal generation
Description

Large-scale gas-fired CCGT plants such as Rabigh 2 IPP Expansion (2,313.5 MW, SAR 11.5 billion, 31-year PPA, carbon-capture ready) and Saudi Rumah 1 / Al-Nairiyah-1, providing baseload generation under Vision 2030.

7Concentrated Solar Power (CSP) Plants with Thermal Storage
CategoryCore technology - dispatchable renewable with thermal storage
Description

CSP projects with molten-salt thermal storage enabling 24/7 dispatchable solar power, including the 100 MW Redstone CSP project in South Africa (12-hour storage, procured under REIPPP) and Bokpoort plant, positioning CSP as a coal-replacement technology.

8Utility-Scale Solar PV + Battery Energy Storage (BESS) Hybrid Plants
CategoryCore technology - renewable generation with co-located storage
Description

Integrated PV-BESS projects delivering round-the-clock clean electricity, including the New Clark City 500 MW project (Philippines, BCDA land lease) and Bisha 1,290 MWp Solar PV Plant with GameChange Solar trackers and L&T as EPC.

9Onshore Wind Power Projects
CategoryCore technology - large-scale wind generation with PPAs
Description

Utility-scale onshore wind projects under long-term PPAs, including the 1,500 MW Kungrad 123 wind and BESS project in Uzbekistan, the 300 MW Bash II wind farm in Uzbekistan's Bukhara region (39 turbines), the 1,000 MW Samarkand solar-BESS project, the 100 MW Karatau wind project in Uzbekistan, and the Khizi-Absheron wind project in Azerbaijan.

Scale indicator14 records

Each record includes

Type, Value, Description, Source

Partnership42 partners
Strategic tierCoreTypeStrategic or Co-development PartnerAnnounced on2026-06-22
Description

Joint bidder (with ACWA Power) for Bahrain's Sitra IWPP (1,400-1,500 MW thermal + 5,682 m³/hr SWRO) under Build-Own-Operate model. Regional competitor and co-bidder.

Strategic tierMinorTypeStrategic or Co-development PartnerAnnounced on2026-06-19
Description

MoU signed at FII PRIORITY Europe 2026 Summit to explore cooperation in energy and data transmission between ACWA Power and Telecom Italia Sparkle.

Strategic tierMinorTypeStrategic or Co-development PartnerAnnounced on2026-06-18
Description

Three-year MoU to support female entrepreneurs in Uzbekistan through sustainable market integration; ACWA Power to prioritize female-owned businesses for outsourced services across Karakalpakstan, Tashkent, Samarkand, and Bukhara regions. Signed at TIIF-2026.

Strategic tierCoreTypeStrategic or Co-development PartnerAnnounced on2026-06-12
Description

Land lease agreement (COL) for 500-hectare site in New Clark City, Philippines, for 500 MW solar park with BESS. Initial investment at least USD 400,000 per MW. Anchor power locator for New Clark City special economic zone.

Strategic tierCoreTypeStrategic or Co-development PartnerAnnounced on2026-06-02
Description

Joint Development Agreement to build up to 5,000 MW clean energy platform by 2030 in the Philippines; covers renewable energy and gas-fired power; initial focus on Philippines' Green Energy Auction Program (GEAP).

Strategic tierFlagshipTypeStrategic or Co-development PartnerAnnounced on2026-05-19
Description

MoU for Renewables & Grid scope of Yanbu Green Ammonia Project in Saudi Arabia (Solar PV, Wind, BESS, substations, transmission). L&T also selected as preferred EPC contractor for Bash 2 (300 MW) wind project in Uzbekistan, and EPC partner for 1,290 MWp Bisha Solar PV Plant.

Strategic tierMinorTypeStrategic or Co-development PartnerAnnounced on2026-03-29
Description

Prof Craig McGregor of Stellenbosch University appointed as inaugural ACWA Power Chair in Concentrating Solar Power; partnership to advance CSP research in South Africa focusing on plant optimisation, thermal storage, and cooling technologies. ACWA Power operates Bokpoort and Redstone CSP facilities in South Africa.

Strategic tierFlagshipTypeTechnology or IntegrationAnnounced on2026-02-27
Description

Ammonia licensing partnership with Danish company Topsoe for the Yanbu Green Hydrogen Project, signed as one of 27 strategic partnerships at Innovation Days 2026 in Riyadh.

Strategic tierCoreTypeStrategic or Co-development PartnerAnnounced on2026-02-27
Description

Co-development agreement with Japanese conglomerate ITOCHU for the Yanbu Green Ammonia Project, signed at Innovation Days 2026.

Strategic tierCoreTypeStrategic or Co-development PartnerAnnounced on2026-02-16
Description

Consortium developing a US$3 billion LNG-to-power project at Durban port, South Africa, with planned capacity 1,000-1,800 MW. Received Strategic Integrated Projects status from South African government.

11Water Global Access (GVCD), NexT Membranes, Harmony Desalting, Huaxin Nano, Aleph Tech
Strategic tierCoreTypeTechnology or IntegrationAnnounced on2026-02-05
Description

Five technology partnerships signed at Innovation Days 2026 covering advanced desalination: GVCD (GVCD technology), NexT Membranes (compaction-free RO), Harmony Desalting (batch RO), Huaxin Nano (anti-fouling membranes), Aleph Tech (AI for energy optimization).

smartwatermagazine.com
Strategic tierFlagshipTypeTechnology or IntegrationAnnounced on2026-02-04
Description

Multi-million-dollar, ten-year strategic digitalization partnership. Thinkproject built connected data foundation enabling real-time digital handover from construction and portfolio-wide visibility across ACWA Power's global portfolio of power, energy, and water assets.

Strategic tierCoreTypeTechnology or IntegrationAnnounced on2026-02-04
Description

Supply contract for Genius Tracker 1P tracking systems for the 1,290 MWp Bisha Solar PV Plant in Saudi Arabia's Asir Province (developed by ACWA Power with L&T as EPC). Marks milestone exceeding 2 GW of combined GameChange-L&T collaboration.

Strategic tierCoreTypeStrategic or Co-development PartnerAnnounced on2026-02-04
Description

Research collaborations with leading universities covering membrane technologies, AI-based plant optimization, and advanced desalination. Signed as part of 27 strategic partnerships at Innovation Days 2026.

Strategic tierCoreTypeStrategic or Co-development PartnerAnnounced on2026-02-03
Description

MoU to develop a green ammonia export corridor from Yanbu, Saudi Arabia, to Rostock, Germany, with operations planned by 2030. EnBW leads production in Yanbu; German firms EnBW, Rostock Port, and VNG handle logistics, receiving, and ammonia-to-hydrogen reconversion.

Strategic tierFlagshipTypeStrategic or Co-development PartnerAnnounced on2026-02-02
Description

Joint Development Agreement for the first phase of the Yanbu Green Hydrogen Hub (commercial operations by 2030). Also part of multi-party MoU with Edison, TotalEnergies, Zhero Europe for renewable energy exports from Saudi Arabia to Europe. Part of green ammonia export corridor to Germany with VNG and Rostock Port.

Strategic tierFlagshipTypeStrategic or Co-development PartnerAnnounced on2025-10-30
Description

Badeel, a wholly-owned PIF subsidiary, is ACWA Power's co-developer for five Saudi PV projects financed under FII9 (~SAR 22.5 billion / US$6 billion total). Badeel and ACWA Power signed the original share purchase agreement for Shuaibah Water and Electricity Co. (32% stake, USD 225 million, completed March 2026). Flagship Saudi government co-investor.

Strategic tierFlagshipTypeStrategic or Co-development PartnerAnnounced on2025-10-30
Description

SAPCO, wholly owned by Saudi Aramco, is the equity co-developer for ACWA Power's five Saudi PV projects under FII9 (SAR 22.5 billion total). Reinforces integration with Saudi national energy strategy.

Strategic tierCoreTypeStrategic or Co-development PartnerAnnounced on2025-10-30
Description

MoU to co-develop a utility-scale energy platform serving Southern African Power Pool (SAPP) countries; focus on renewable power, battery storage, gas-to-power, and energy trading.

Strategic tierCoreTypeStrategic or Co-development PartnerAnnounced on2025-10-30
Description

Framework agreement with Chinese wind technology leader to accelerate innovation, local manufacturing, and technology transfer across Saudi Arabia, Uzbekistan, China, and other key markets; boosting wind turbine efficiency and Vision 2030 local content.

Strategic tierCoreTypeStrategic or Co-development PartnerAnnounced on2025-10-30
Description

Framework agreement with leading Chinese wind turbine OEM (16x6.5 MW turbines supplied for Karatau 100 MW Wind Project in Uzbekistan). Technology transfer and joint project development in emerging markets.

Strategic tierCoreTypeStrategic or Co-development PartnerAnnounced on2025-10-30
Description

Framework agreement with leading Chinese wind technology company; also ACWA Power acquired the 100 MW Mingyang Wind Power Project in China during Q3 2025, reinforcing China market presence.

Strategic tierCoreTypeTechnology or IntegrationAnnounced on2025-07-28
Description

Strategic collaboration with ACWA Field Services (NMES) for on-site Rotor Lifetime Assessment and Extension (RLE) solutions for GE Frame 7E, EA, FA gas turbines within Saudi Arabia.

Strategic tierFlagshipTypeStrategic or Co-development PartnerAnnounced on2025-07-18
Description

Signed PPP contract and Government Support Agreement for the Grande-Côte seawater desalination project (400,000 m³/day, US$800 million investment, two phases of 200,000 m³/day, full operations by 2031). The largest desalination initiative in West Africa, fully reliant on green electricity.

Strategic tierFlagshipTypeStrategic or Co-development PartnerAnnounced on2025-07-03
Description

MoU with Indonesia's sovereign wealth fund to explore investments in renewable energy, combined cycle gas turbines, green hydrogen, and water desalination. Targets Indonesia's 34% renewables by 2034 and 87% by 2060.

Strategic tierFlagshipTypeStrategic or Co-development PartnerAnnounced on2025-07-03
Description

Strategic partnership with Indonesian state oil and gas corporation; covers 500 MW of renewable energy and gas-to-power projects, green hydrogen, and O&M business lines. Total project funding up to US$10 billion.

Strategic tierCoreTypeStrategic or Co-development PartnerAnnounced on2025-06-30
Description

MoU with the Philippines' sovereign wealth fund to explore renewable energy and energy storage projects for off-grid islands; technical, commercial, and financial feasibility studies.

Strategic tierFlagshipTypeStrategic or Co-development PartnerAnnounced on2025-05-29
Description

MoU to explore development of up to 12.5 GW power generation capacity by 2040 with initial investment value up to US$10 billion; supports Malaysia's 70% renewable target by 2050. Signed during ASEAN-GCC Summit in Kuala Lumpur.

Strategic tierCoreTypeStrategic or Co-development PartnerAnnounced on2025-05-29
Description

Strategic Partnership Agreement and Heads of Terms for Joint Development Agreement covering floating solar PV (FPV), combined cycle gas turbine (CCGT), and large-scale water desalination feasibility studies in Malaysia.

Strategic tierCoreTypeStrategic or Co-development PartnerAnnounced on2025-05-29
Description

Strategic Partnership Agreement and Heads of Terms for Joint Development Agreement covering FPV, CCGT, and large-scale water desalination in Malaysia.

Strategic tierCoreTypeStrategic or Co-development PartnerAnnounced on2025-05-29
Description

Strategic Partnership Agreement and Heads of Terms for Joint Development Agreement covering FPV, CCGT, and large-scale water desalination in Malaysia.

32KBR
Strategic tierCoreTypeTechnology or IntegrationAnnounced on2025-05-14
Description

MoU for collaboration on large-scale projects utilizing KBR's ammonia technology and engineering services, including programme management. Part of USD 500 million US firm collaboration package signed at Saudi-US Investment Forum.

Strategic tierCoreTypeTechnology or IntegrationAnnounced on2025-05-14
Description

MoU to test and implement innovations in green hydrogen production (electrolysis solutions), enhancing safety and efficiency with potential in-Kingdom manufacturing. Also hydrogen compression partnership signed at Innovation Days 2026.

Strategic tierCoreTypeTechnology or IntegrationAnnounced on2025-05-14
Description

MoU to test and implement innovations in core equipment for combined-cycle gas turbine projects, electricity transmission and distribution systems in Saudi Arabia. Also part of HVDC transmission corridor MoU for renewable exports to Europe.

Strategic tierCoreTypeTechnology or IntegrationAnnounced on2025-05-14
Description

Joint research collaboration on energy-saving PX (pressure exchanger) operation technologies in seawater desalination plants, improving energy efficiency through advanced PX technology.

Strategic tierMinorTypeStrategic or Co-development Partner
Description

Research and development partnership among ACWA Power's US academic collaborations alongside MIT and UCLA.

Strategic tierCoreTypeTechnology or Integration
Description

ACWA is an early adopter of Microsoft Azure AI services and Microsoft 365 Copilot; Microsoft confirmed Saudi Arabia East Azure datacenter region operational from Q4 2026 in collaboration with PIF and Site.

Strategic tierFlagshipTypeTechnology or Integration
Description

SIDEM (Veolia subsidiary) secured US$320 million contract to engineer and supply technology for Dubai's Hassyan SWRO plant (818,000 m³/day, world-record 2.9 kWh/m³). Developed with DEWA and ACWA Power.

Strategic tierCoreTypeTechnology or Integration
Description

Long-standing US technology and financial partners cited as part of >USD 6 billion in cumulative ACWA-US firm collaborations; covers solar tracker technologies (Nextracker), materials (DuPont), and equity investments (EIG, Air Products).

Strategic tierMinorTypeStrategic or Co-development Partner
Description

Public-private partnership with Bahrain's EWA for the 100 MW BAJ Solar IPP project (Bilaj Al Jazayer), targeted for September 2027 commercial operation.

Strategic tierCoreTypeStrategic or Co-development Partner
Description

Competing consortia bidders for Kuwait's 1.1 GW Al Shagaya Renewable Energy Phase III Zone 1 solar project (bids opening mid-July 2026). Regional competitor and co-investor in Uzbekistan.

Strategic tierFlagshipTypeStrategic or Co-development Partner
Description

Multi-party MoUs signed at the Renewable Energy and Green Hydrogen Export Workshop under Ministry of Energy supervision in Riyadh, leveraging Saudi Arabia's leadership in IMEC. Covers renewable energy export corridor from Saudi Arabia to Europe, electricity corridor development, and HVDC transmission technology.

Recent move11 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight7 records

Each record includes

Type, Description

Peers10 records
TypeBroad incumbent
Description

Danish global leader in offshore wind and green hydrogen. Comparable as a developer-investor-operator of utility-scale renewables and a first-mover in green hydrogen, though its pipeline is heavily offshore-wind-weighted and Europe-centric.

TypeDirect peer
Description

UAE-based sovereign-backed renewable energy and green hydrogen developer/investor/operator with a global portfolio. Most directly comparable peer to ACWA Power: similar Middle East origin, government sponsorship (Mubadala/TAQA), and integrated developer-investor-operator model targeting utility-scale solar, wind, and hydrogen in the same geographies.

TypeOthers
Description

Japanese trading house with a substantial global IPP investment portfolio (co-investor in ACWA's Samarkand project through Sumitomo partnership; comparable as a long-tenor equity investor in utility-scale power projects). Acts more as a co-investor/financier alongside ACWA than a direct competitor.

TypeDirect peer
Description

Abu Dhabi-listed integrated power and water utility with generation, transmission, and distribution. Co-bidder with ACWA on Bahrain Sitra IWPP and a direct regional peer for utility-scale IPP/IWPP concessions in MENA under long-term PPAs/WPAs.

TypeEmerging player
Description

Dubai-based distributed solar and energy services provider active across the Middle East. Emerging co-bidder with ACWA on Bahrain BAJ Solar IPP and a regional competitor for smaller-scale solar PPAs in MENA; complementary rather than directly competing at ACWA's utility scale.

TypeBroad incumbent
Description

Global multi-utility with major renewable and desalination presence, including Middle East and Africa. Engie competes head-to-head with ACWA on IPP tenders (e.g., Morocco, Egypt) and has comparable long-term PPA and project-finance capabilities, but operates a much broader portfolio beyond infrastructure development.

TypeBroad incumbent
Description

Global renewable energy arm of Enel Group with utility-scale solar, wind, and storage across 5 continents. Comparable developer-investor-operator profile in emerging markets, though operates within Enel's vertically integrated utility business.

TypeBroad incumbent
Description

One of the world's largest renewable energy developers with global wind, solar, and storage portfolio. Comparable as a large-scale developer-investor-operator of utility renewable assets, though Iberdrola serves retail/corporate customers and has much broader geographic and product breadth.

TypeBroad incumbent
Description

Global renewable energy developer and IPP owner, with active MENA and Africa presence. Bidder on Al Shagaya Phase III alongside Masdar; comparable as a long-tenor utility-scale developer and equity investor in renewables and storage.

TypeDirect peer
Description

Singapore-listed integrated urban solutions and energy platform with renewables, energy storage, and water businesses across Asia. Comparable in its mix of power, water, and emerging-markets focus, and as a sovereign-adjacent (Temasek-linked) infrastructure developer competing in SE Asia.

Market position
Strengths5 records

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Headline, Details, Source

Weaknesses5 records

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Headline, Details, Source

Competitive moat7 records

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Type, Details

Key risks6 records

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Key highlights7 records

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Customer concentration

Classification, Details

Named customers8 records

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Name, Industry, Type, Use case, Source, UUID

Segment4 records

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Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile4 records

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Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
Yes
API detail
Has APIbool
No

Docs URL, Description

Integration3 records

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Title, Type, Description, Source

AI capability4 records

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Type, Description, Source

AI maturity
App detail

Has app

Feature6 records

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Core technology
Revenue estimate
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Number of profiles
Profiles11 records

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Name, Designation, Designation category, Overview, Profile commentary, Source

Subsidiaries5 records

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Name, Acquired on, Relationship type, Type, Business focus

Compliance10 records

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Name, Class, Description

Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds18 records

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Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors36 records

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Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

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Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

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Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

ACWA Power

Utility-scale power generation and water desalination infrastructureacwapower.com

ACWA Power is a Saudi-listed developer, investor, and operator of utility-scale power, water desalination, and green hydrogen infrastructure across 15 countries. Its 110-asset portfolio delivers 98.0 GW of capacity and 9.8 million m³/day of desalinated water under long-term sovereign-backed PPAs and WPAs.

What ACWA Power does

ACWA Power Company (Saudi Exchange: 2082) is a Riyadh-headquartered, Saudi-listed developer-investor-operator of utility-scale power generation, water desalination, and green hydrogen infrastructure, with 110 assets across 15 countries, 98.0 GW of generation capacity, 9.8 million m³/day of desalination capacity, and 124.4 billion USD of assets under management. The company is recognized as the world's largest private water desalination company and a first-mover in green hydrogen at scale, anchored by the US$8.5 billion NEOM Green Hydrogen Project and the Yanbu Green Hydrogen Hub joint development with EnBW. Its core technology stack spans combined-cycle gas turbines, utility-scale solar PV, onshore wind, concentrated solar power with molten-salt thermal storage (e.g., 100 MW Redstone CSP with 12-hour storage), battery energy storage systems (BESS), seawater reverse osmosis desalination (world-record 2.9 kWh/m³ at Hassyan), and electrolysis-based green hydrogen and ammonia production, with AI used for predictive maintenance and energy optimization.

ACWA Power operates a fully integrated developer-investor-operator business model. It originates and structures projects, invests its own equity alongside sovereign co-investors (PIF/Badeel, Saudi Aramco/SAPCO, Danantara, MIDA, MIC, PT Pertamina, IFC, OPEC Fund, Sumitomo, Chubu, Shikoku), and operates the assets through its wholly-owned subsidiaries NOMAC (O&M) and ACWA Field Services / NMES (rotating-equipment field services). Revenue is generated through (i) equity returns from long-term 20-35 year inflation-indexed, availability- and output-based PPAs and WPAs with sovereign off-takers (approximately 85% of revenue is sovereign-backed); (ii) project development fees recognized at financial close; and (iii) O&M and field service fees from in-house NOMAC/NMES to both ACWA's portfolio and third-party utilities.

The company is 50%-owned by Saudi Arabia's Public Investment Fund (PIF), which has committed to allocate 70% of the Kingdom's renewable energy targets to ACWA Power under the National Renewable Energy Program. With 4,000+ employees across 13 offices and an MSCI ESG rating of 'A' (upgraded May 2026), ACWA Power is positioning itself as a global integrated energy-water-hydrogen platform pursuing US$250 billion AUM by 2030.

ACWA Power firmographics

Firmographics
Name
ACWA Power
Legal name
ACWA Power Company
Website
https://www.acwapower.com
Company type
Public
Founded year
2004
Operating status
Operating
Headcount range
1,001–5,000 employees
Short description
ACWA Power is a Saudi-listed developer, investor, and operator of utility-scale power, water desalination, and green hydrogen infrastructure across 15 countries. Its 110-asset portfolio delivers 98.0 GW of capacity and 9.8 million m³/day of desalinated water under long-term sovereign-backed PPAs and WPAs.
Ownership category
akta.pro rank

ACWA Power industry classification

Industry
Product category
Utility-scale power generation and water desalination infrastructure
NAICS
Electric Power Generation (22111), Wind Electric Power Generation (221115), Hydroelectric Power Generation (221111), Solar Electric Power Generation (221114)
SIC
Electric Services (4911)
akta.pro primary industry
Wind Power Plant EPC (Onshore/Offshore) (EUAEAAAF)
akta.pro secondary industries
Utility-Scale Power Generation Asset Management (EUAEAMAA), Incentives, Grants & Program Administration (Auctions, Tenders, IRA/ITC/PTC Advisory) (EUAMAAAJ), Site Preparation & Civil Works (Clearing, Grading, Earthworks, Roads) (EUAMAFAA), Electrical Balance-of-Plant EPC (MV Collection, Cabling, Earthing, Lighting) (EUAEADAB), Wind Balance-of-Plant EPC (Crane Pads, Turbine Foundations, Internal Roads) (EUAEADAI)

Keywords

  • Power generation
  • Water desalination
  • Renewable energy
  • Green hydrogen
  • Utility infrastructure

Where ACWA Power is headquartered

Location

Headquarters

HQ city
Riyadh
HQ country
Saudi Arabia
HQ region
Middle East

Offices3 records

Markets served

ACWA Power business model

Business model
GTM type
B2B
Offering type
Services
Cost components
Infrastructure, Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales

Revenue model

  1. Long-term equity returns from IPP/IWPP ownership: Majority of revenue (~85% secured by sovereign-backed contracts) comes from equity stakes in utility-scale power, water, and hydrogen projects operating under inflation-indexed Power Purchase Agreements (PPAs) and Water Purchase Agreements (WPAs) typically spanning 20-35 years, generating availability-based or output-based revenue.
  2. Project development fees: Development fees earned from originating, structuring, and arranging project finance for new utility-scale infrastructure projects; recognized upon financial close.
  3. Operation & Maintenance (O&M) service fees: O&M service fees from in-house subsidiary NOMAC (NOMAC Maintenance Energy Services / ACWA Field Services / NMES), providing operations, maintenance, and field services across ACWA's portfolio and to third-party IPPs/utilities.

Pricing tiers

ModelBillingPrice
Outcome Based/ PerformanceMulti-year contractLong-term availability-based PPAs/WPAs with sovereign off-takers
Unit PricingMulti-year contractRecord-low renewable and desalination tariffs

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

ACWA Power product offering

Product offering

Core offering

ACWA Power develops, invests in, co-owns, and operates utility-scale power generation, water desalination, and green hydrogen infrastructure projects, holding equity in 110 assets across 15 countries with 98.0 GW of generation capacity and 9.8 million m³/day of desalination capacity. Revenue is secured primarily through long-term availability- and output-based Power Purchase Agreements (PPAs) and Water Purchase Agreements (WPAs) with sovereign off-takers, with the company also earning development fees at financial close and O&M service fees through its in-house NOMAC subsidiary and NMES field services arm.

Product overview

ACWA Power operates a platform-plus-modules architecture across an integrated portfolio of utility-scale power generation, water desalination, and green hydrogen infrastructure - rather than a single software product. Its core offering is the end-to-end development-investment-operation of power and water assets (110 assets across 15 countries, 98.0 GW capacity, 9.8 million m³/day of desalination, 1.2 m MTPA NH₃ capacity, USD 124.4 billion AUM), delivered under long-term PPAs/WPAs. The named products include: (1) the integrated energy/water/hydrogen portfolio itself; (2) Acwa Operations (NOMAC) - wholly-owned O&M platform; (3) Acwa Field Services (NMES) - rotating-equipment on-site maintenance; (4) the Green Hydrogen & Green Ammonia project platform anchored by NEOM and Yanbu; (5) SWRO desalination plants; (6) Combined-Cycle Gas Turbine (CCGT) power plants; (7) Concentrated Solar Power (CSP) plants with thermal storage; (8) Solar PV + BESS hybrid plants; and (9) Onshore wind projects. These modules fit together via a unified developer-investor-operator business model: project development and equity investment originate assets, while Acwa Operations and Acwa Field Services provide long-term O&M, and Thinkproject provides the connected data foundation across the portfolio.

Differentiator

Problem solved

Functional benefit

Brands

  • ACWA Operations: Wholly owned operations and maintenance platform that plays a role in every stage of ACWA Power's business model.
  • ACWA Field Services
  • NOMAC

Products and services

  • Integrated Energy, Water and Green Hydrogen Portfolio Flagship integrated offering spanning power generation (98.0 GW across 110 assets in 15 countries), water desalination (9.8 million m³/day), and green hydrogen at scale (1.2 MTPA NH₃ capacity), delivered through long-term PPAs/WPAs and BOO/BOOT models with sovereign-backed offtakers.
  • ACWA Operations (NOMAC) Wholly-owned operations and maintenance (O&M) platform delivering availability above contracted levels across ACWA Power's power, water, and desalination portfolio, preserving residual asset value and serving as a primary source of stable, high-visibility cash flows.
  • ACWA Field Services (NMES / NOMAC Maintenance Energy Services) ACWA Power's internal long-term service agreement (LTSA) and field service provider offering advanced workshop-level capabilities on-site, including rotor unstacking/restacking, laser welding, precision machining, on-site balancing/inspection, NDT, and component replacement for IPPs and government utilities.
  • Green Hydrogen & Green Ammonia Project Platform First-mover green hydrogen and ammonia production platform with 1.2 MTPA NH₃ target capacity, anchored by the NEOM Green Hydrogen Project (US$8.5 billion financial close) and the Yanbu Green Hydrogen Hub (JDA with EnBW, commercial operations by 2030).
  • Seawater Reverse Osmosis (SWRO) Desalination Plants Utility-scale seawater desalination plants using SWRO technology, including Hassyan (818,000 m³/day at 2.9 kWh/m³ record efficiency with DEWA), Rabigh 3 IWP (600,000 m³/day, >99% availability), and Grande-Côte Senegal (400,000 m³/day, fully renewable-powered).
  • Combined-Cycle Gas Turbine (CCGT) / Gas-Fired Power Plants Large-scale gas-fired CCGT plants such as Rabigh 2 IPP Expansion (2,313.5 MW, SAR 11.5 billion, 31-year PPA, carbon-capture ready) and Saudi Rumah 1 / Al-Nairiyah-1, providing baseload generation under Vision 2030.
  • Concentrated Solar Power (CSP) Plants with Thermal Storage CSP projects with molten-salt thermal storage enabling 24/7 dispatchable solar power, including the 100 MW Redstone CSP project in South Africa (12-hour storage, procured under REIPPP) and Bokpoort plant, positioning CSP as a coal-replacement technology.
  • Utility-Scale Solar PV + Battery Energy Storage (BESS) Hybrid Plants Integrated PV-BESS projects delivering round-the-clock clean electricity, including the New Clark City 500 MW project (Philippines, BCDA land lease) and Bisha 1,290 MWp Solar PV Plant with GameChange Solar trackers and L&T as EPC.
  • Onshore Wind Power Projects Utility-scale onshore wind projects under long-term PPAs, including the 1,500 MW Kungrad 123 wind and BESS project in Uzbekistan, the 300 MW Bash II wind farm in Uzbekistan's Bukhara region (39 turbines), the 1,000 MW Samarkand solar-BESS project, the 100 MW Karatau wind project in Uzbekistan, and the Khizi-Absheron wind project in Azerbaijan.

Quantifiable outcome

  • Solar PV tariffs reduced by 83% over the past decade, desalination tariffs reduced by 58%
  • +7 more outcomes

Companies that use ACWA Power

Customer profile

Named customers8 records

Segments4 records

Ideal customer profiles4 records

ACWA Power technology and API

Technology

Technology focussed Yes

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability4 records

Feature6 records

ACWA Power partnerships and signals

Strategic signal

Partnerships

42 partnerships are on record, tiered core, minor and flagship.

  • TAQA (Abu Dhabi National Energy Company)coreStrategic or Co-development Partner · 22 June 2026Joint bidder (with ACWA Power) for Bahrain's Sitra IWPP (1,400-1,500 MW thermal + 5,682 m³/hr SWRO) under Build-Own-Operate model. Regional competitor and co-bidder.
  • Telecom Italia SparkleminorStrategic or Co-development Partner · 19 June 2026MoU signed at FII PRIORITY Europe 2026 Summit to explore cooperation in energy and data transmission between ACWA Power and Telecom Italia Sparkle.
  • HAMROHminorStrategic or Co-development Partner · 18 June 2026Three-year MoU to support female entrepreneurs in Uzbekistan through sustainable market integration; ACWA Power to prioritize female-owned businesses for outsourced services across Karakalpakstan, Tashkent, Samarkand, and Bukhara regions. Signed at TIIF-2026.
  • Bases Conversion and Development Authority (BCDA)coreStrategic or Co-development Partner · 12 June 2026Land lease agreement (COL) for 500-hectare site in New Clark City, Philippines, for 500 MW solar park with BESS. Initial investment at least USD 400,000 per MW. Anchor power locator for New Clark City special economic zone.
  • Emerging Power Inc. (Nickel Asia)coreStrategic or Co-development Partner · 2 June 2026Joint Development Agreement to build up to 5,000 MW clean energy platform by 2030 in the Philippines; covers renewable energy and gas-fired power; initial focus on Philippines' Green Energy Auction Program (GEAP).
  • Larsen & Toubro (L&T)flagshipStrategic or Co-development Partner · 19 May 2026MoU for Renewables & Grid scope of Yanbu Green Ammonia Project in Saudi Arabia (Solar PV, Wind, BESS, substations, transmission). L&T also selected as preferred EPC contractor for Bash 2 (300 MW) wind project in Uzbekistan, and EPC partner for 1,290 MWp Bisha Solar PV Plant.
  • Stellenbosch UniversityminorStrategic or Co-development Partner · 29 March 2026Prof Craig McGregor of Stellenbosch University appointed as inaugural ACWA Power Chair in Concentrating Solar Power; partnership to advance CSP research in South Africa focusing on plant optimisation, thermal storage, and cooling technologies. ACWA Power operates Bokpoort and Redstone CSP facilities in South Africa.
  • TopsoeflagshipTechnology or Integration · 27 February 2026Ammonia licensing partnership with Danish company Topsoe for the Yanbu Green Hydrogen Project, signed as one of 27 strategic partnerships at Innovation Days 2026 in Riyadh.
  • ITOCHUcoreStrategic or Co-development Partner · 27 February 2026Co-development agreement with Japanese conglomerate ITOCHU for the Yanbu Green Ammonia Project, signed at Innovation Days 2026.
  • Vitol Group / Vivo Energy / VTTIcoreStrategic or Co-development Partner · 16 February 2026Consortium developing a US$3 billion LNG-to-power project at Durban port, South Africa, with planned capacity 1,000-1,800 MW. Received Strategic Integrated Projects status from South African government.
  • Water Global Access (GVCD), NexT Membranes, Harmony Desalting, Huaxin Nano, Aleph TechcoreTechnology or Integration · 5 February 2026Five technology partnerships signed at Innovation Days 2026 covering advanced desalination: GVCD (GVCD technology), NexT Membranes (compaction-free RO), Harmony Desalting (batch RO), Huaxin Nano (anti-fouling membranes), Aleph Tech (AI for energy optimization).
  • ThinkprojectflagshipTechnology or Integration · 4 February 2026Multi-million-dollar, ten-year strategic digitalization partnership. Thinkproject built connected data foundation enabling real-time digital handover from construction and portfolio-wide visibility across ACWA Power's global portfolio of power, energy, and water assets.
  • GameChange SolarcoreTechnology or Integration · 4 February 2026Supply contract for Genius Tracker 1P tracking systems for the 1,290 MWp Bisha Solar PV Plant in Saudi Arabia's Asir Province (developed by ACWA Power with L&T as EPC). Marks milestone exceeding 2 GW of combined GameChange-L&T collaboration.
  • MIT, Stanford, Tsinghua University, UCLAcoreStrategic or Co-development Partner · 4 February 2026Research collaborations with leading universities covering membrane technologies, AI-based plant optimization, and advanced desalination. Signed as part of 27 strategic partnerships at Innovation Days 2026.
  • Rostock Port and VNG (with EnBW)coreStrategic or Co-development Partner · 3 February 2026MoU to develop a green ammonia export corridor from Yanbu, Saudi Arabia, to Rostock, Germany, with operations planned by 2030. EnBW leads production in Yanbu; German firms EnBW, Rostock Port, and VNG handle logistics, receiving, and ammonia-to-hydrogen reconversion.
  • EnBW (Energie Baden-Württemberg AG)flagshipStrategic or Co-development Partner · 2 February 2026Joint Development Agreement for the first phase of the Yanbu Green Hydrogen Hub (commercial operations by 2030). Also part of multi-party MoU with Edison, TotalEnergies, Zhero Europe for renewable energy exports from Saudi Arabia to Europe. Part of green ammonia export corridor to Germany with VNG and Rostock Port.
  • Water and Electricity Holding Company (Badeel)flagshipStrategic or Co-development Partner · 30 October 2025Badeel, a wholly-owned PIF subsidiary, is ACWA Power's co-developer for five Saudi PV projects financed under FII9 (~SAR 22.5 billion / US$6 billion total). Badeel and ACWA Power signed the original share purchase agreement for Shuaibah Water and Electricity Co. (32% stake, USD 225 million, completed March 2026). Flagship Saudi government co-investor.
  • Saudi Aramco (through SAPCO)flagshipStrategic or Co-development Partner · 30 October 2025SAPCO, wholly owned by Saudi Aramco, is the equity co-developer for ACWA Power's five Saudi PV projects under FII9 (SAR 22.5 billion total). Reinforces integration with Saudi national energy strategy.
  • Chariot LimitedcoreStrategic or Co-development Partner · 30 October 2025MoU to co-develop a utility-scale energy platform serving Southern African Power Pool (SAPP) countries; focus on renewable power, battery storage, gas-to-power, and energy trading.
  • Goldwind Science & TechnologycoreStrategic or Co-development Partner · 30 October 2025Framework agreement with Chinese wind technology leader to accelerate innovation, local manufacturing, and technology transfer across Saudi Arabia, Uzbekistan, China, and other key markets; boosting wind turbine efficiency and Vision 2030 local content.
  • Envision EnergycoreStrategic or Co-development Partner · 30 October 2025Framework agreement with leading Chinese wind turbine OEM (16x6.5 MW turbines supplied for Karatau 100 MW Wind Project in Uzbekistan). Technology transfer and joint project development in emerging markets.
  • Mingyang Smart EnergycoreStrategic or Co-development Partner · 30 October 2025Framework agreement with leading Chinese wind technology company; also ACWA Power acquired the 100 MW Mingyang Wind Power Project in China during Q3 2025, reinforcing China market presence.
  • EthosEnergycoreTechnology or Integration · 28 July 2025Strategic collaboration with ACWA Field Services (NMES) for on-site Rotor Lifetime Assessment and Extension (RLE) solutions for GE Frame 7E, EA, FA gas turbines within Saudi Arabia.
  • Government of Senegal / SONESflagshipStrategic or Co-development Partner · 18 July 2025Signed PPP contract and Government Support Agreement for the Grande-Côte seawater desalination project (400,000 m³/day, US$800 million investment, two phases of 200,000 m³/day, full operations by 2031). The largest desalination initiative in West Africa, fully reliant on green electricity.
  • Danantara IndonesiaflagshipStrategic or Co-development Partner · 3 July 2025MoU with Indonesia's sovereign wealth fund to explore investments in renewable energy, combined cycle gas turbines, green hydrogen, and water desalination. Targets Indonesia's 34% renewables by 2034 and 87% by 2060.
  • PT PertaminaflagshipStrategic or Co-development Partner · 3 July 2025Strategic partnership with Indonesian state oil and gas corporation; covers 500 MW of renewable energy and gas-to-power projects, green hydrogen, and O&M business lines. Total project funding up to US$10 billion.
  • Maharlika Investment Corporation (MIC)coreStrategic or Co-development Partner · 30 June 2025MoU with the Philippines' sovereign wealth fund to explore renewable energy and energy storage projects for off-grid islands; technical, commercial, and financial feasibility studies.
  • Malaysian Investment Development Authority (MIDA)flagshipStrategic or Co-development Partner · 29 May 2025MoU to explore development of up to 12.5 GW power generation capacity by 2040 with initial investment value up to US$10 billion; supports Malaysia's 70% renewable target by 2050. Signed during ASEAN-GCC Summit in Kuala Lumpur.
  • Tenaga Nasional Berhad (TNB)coreStrategic or Co-development Partner · 29 May 2025Strategic Partnership Agreement and Heads of Terms for Joint Development Agreement covering floating solar PV (FPV), combined cycle gas turbine (CCGT), and large-scale water desalination feasibility studies in Malaysia.
  • Terengganu Inc.coreStrategic or Co-development Partner · 29 May 2025Strategic Partnership Agreement and Heads of Terms for Joint Development Agreement covering FPV, CCGT, and large-scale water desalination in Malaysia.
  • UEM LestracoreStrategic or Co-development Partner · 29 May 2025Strategic Partnership Agreement and Heads of Terms for Joint Development Agreement covering FPV, CCGT, and large-scale water desalination in Malaysia.
  • KBRcoreTechnology or Integration · 14 May 2025MoU for collaboration on large-scale projects utilizing KBR's ammonia technology and engineering services, including programme management. Part of USD 500 million US firm collaboration package signed at Saudi-US Investment Forum.
  • Baker HughescoreTechnology or Integration · 14 May 2025MoU to test and implement innovations in green hydrogen production (electrolysis solutions), enhancing safety and efficiency with potential in-Kingdom manufacturing. Also hydrogen compression partnership signed at Innovation Days 2026.
  • GE VernovacoreTechnology or Integration · 14 May 2025MoU to test and implement innovations in core equipment for combined-cycle gas turbine projects, electricity transmission and distribution systems in Saudi Arabia. Also part of HVDC transmission corridor MoU for renewable exports to Europe.
  • Energy RecoverycoreTechnology or Integration · 14 May 2025Joint research collaboration on energy-saving PX (pressure exchanger) operation technologies in seawater desalination plants, improving energy efficiency through advanced PX technology.
  • Yale UniversityminorStrategic or Co-development PartnerResearch and development partnership among ACWA Power's US academic collaborations alongside MIT and UCLA.
  • MicrosoftcoreTechnology or IntegrationACWA is an early adopter of Microsoft Azure AI services and Microsoft 365 Copilot; Microsoft confirmed Saudi Arabia East Azure datacenter region operational from Q4 2026 in collaboration with PIF and Site.
  • Veolia / SIDEMflagshipTechnology or IntegrationSIDEM (Veolia subsidiary) secured US$320 million contract to engineer and supply technology for Dubai's Hassyan SWRO plant (818,000 m³/day, world-record 2.9 kWh/m³). Developed with DEWA and ACWA Power.
  • Nextracker, DuPont, EIG, Air ProductscoreTechnology or IntegrationLong-standing US technology and financial partners cited as part of >USD 6 billion in cumulative ACWA-US firm collaborations; covers solar tracker technologies (Nextracker), materials (DuPont), and equity investments (EIG, Air Products).
  • Yellow Door EnergyminorStrategic or Co-development PartnerPublic-private partnership with Bahrain's EWA for the 100 MW BAJ Solar IPP project (Bilaj Al Jazayer), targeted for September 2027 commercial operation.
  • Masdar, EDF RenewablescoreStrategic or Co-development PartnerCompeting consortia bidders for Kuwait's 1.1 GW Al Shagaya Renewable Energy Phase III Zone 1 solar project (bids opening mid-July 2026). Regional competitor and co-investor in Uzbekistan.
  • Edison S.p.A., TotalEnergies, Zhero Europe B.V., CESI, Prysmian, Siemens Energy, HitachiflagshipStrategic or Co-development PartnerMulti-party MoUs signed at the Renewable Energy and Green Hydrogen Export Workshop under Ministry of Energy supervision in Riyadh, leveraging Saudi Arabia's leadership in IMEC. Covers renewable energy export corridor from Saudi Arabia to Europe, electricity corridor development, and HVDC transmission technology.

Scale indicators14 records

Recent moves11 records

Expansion highlights7 records

ACWA Power competitors and assessment

Company assessment

Broad incumbents

  • Ørsted: Danish global leader in offshore wind and green hydrogen. Comparable as a developer-investor-operator of utility-scale renewables and a first-mover in green hydrogen, though its pipeline is heavily offshore-wind-weighted and Europe-centric.
  • Engie: Global multi-utility with major renewable and desalination presence, including Middle East and Africa. Engie competes head-to-head with ACWA on IPP tenders (e.g., Morocco, Egypt) and has comparable long-term PPA and project-finance capabilities, but operates a much broader portfolio beyond infrastructure development.
  • Enel Green Power: Global renewable energy arm of Enel Group with utility-scale solar, wind, and storage across 5 continents. Comparable developer-investor-operator profile in emerging markets, though operates within Enel's vertically integrated utility business.
  • Iberdrola: One of the world's largest renewable energy developers with global wind, solar, and storage portfolio. Comparable as a large-scale developer-investor-operator of utility renewable assets, though Iberdrola serves retail/corporate customers and has much broader geographic and product breadth.
  • EDF Renewables: Global renewable energy developer and IPP owner, with active MENA and Africa presence. Bidder on Al Shagaya Phase III alongside Masdar; comparable as a long-tenor utility-scale developer and equity investor in renewables and storage.

Direct peers

  • Masdar: UAE-based sovereign-backed renewable energy and green hydrogen developer/investor/operator with a global portfolio. Most directly comparable peer to ACWA Power: similar Middle East origin, government sponsorship (Mubadala/TAQA), and integrated developer-investor-operator model targeting utility-scale solar, wind, and hydrogen in the same geographies.
  • TAQA (Abu Dhabi National Energy Company): Abu Dhabi-listed integrated power and water utility with generation, transmission, and distribution. Co-bidder with ACWA on Bahrain Sitra IWPP and a direct regional peer for utility-scale IPP/IWPP concessions in MENA under long-term PPAs/WPAs.
  • Sembcorp Industries: Singapore-listed integrated urban solutions and energy platform with renewables, energy storage, and water businesses across Asia. Comparable in its mix of power, water, and emerging-markets focus, and as a sovereign-adjacent (Temasek-linked) infrastructure developer competing in SE Asia.

Others

  • Marubeni Corporation: Japanese trading house with a substantial global IPP investment portfolio (co-investor in ACWA's Samarkand project through Sumitomo partnership; comparable as a long-tenor equity investor in utility-scale power projects). Acts more as a co-investor/financier alongside ACWA than a direct competitor.

Emerging players

  • Yellow Door Energy: Dubai-based distributed solar and energy services provider active across the Middle East. Emerging co-bidder with ACWA on Bahrain BAJ Solar IPP and a regional competitor for smaller-scale solar PPAs in MENA; complementary rather than directly competing at ACWA's utility scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

ACWA Power social profiles

Digital presence

ACWA Power compliance and trust

Trust signal

Compliance10 records

ACWA Power financial estimates

Financial estimate

Revenue estimate

Valuation estimate

ACWA Power leadership team

Management profile

Number of profiles

Profiles11 records

ACWA Power subsidiaries and ownership

Company hierarchy

Subsidiaries5 records

ACWA Power funding detail

Funding detail

Funding overview

Funding rounds18 records

Investors36 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

ACWA Power M&A and investment

M&A and investment

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ACWA Power

What does ACWA Power do?

ACWA Power develops, invests in, co-owns, and operates utility-scale power generation, water desalination, and green hydrogen infrastructure projects, holding equity in 110 assets across 15 countries with 98.0 GW of generation capacity and 9.8 million m³/day of desalination capacity. Revenue is secured primarily through long-term availability- and output-based Power Purchase Agreements (PPAs) and Water Purchase Agreements (WPAs) with sovereign off-takers, with the company also earning development fees at financial close and O&M service fees through its in-house NOMAC subsidiary and NMES field services arm.

Is ACWA Power a public or private company?

ACWA Power is a public company. It is classified as public and is currently operating.

When was ACWA Power founded?

ACWA Power was founded in 2004. It employs 1,001 to 5,000 people.

Where is ACWA Power based?

ACWA Power is headquartered in Riyadh, Saudi Arabia, in the Middle East region.

How does ACWA Power make money?

Three revenue lines are on record. Long-term equity returns from IPP/IWPP ownership is the primary driver. The others are project development fees and operation & Maintenance (O&M) service fees.

Who are ACWA Power's main competitors?

Broad incumbents on record are Ørsted, Engie, Enel Green Power, Iberdrola and EDF Renewables. Direct peers are Masdar, TAQA (Abu Dhabi National Energy Company) and Sembcorp Industries. Marubeni Corporation is listed as an others. Yellow Door Energy is listed as an emerging player.

Does ACWA Power have an API?

No public API is recorded for ACWA Power.

What industry is ACWA Power in?

ACWA Power's product category is Utility-scale power generation and water desalination infrastructure. Its primary akta.pro industry code is EUAEAAAF, Wind Power Plant EPC (Onshore/Offshore), with a secondary code of EUAEAMAA, Utility-Scale Power Generation Asset Management. Its NAICS code is 22111 and its SIC code is 4911.

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ArgaamTASI falls 0.5% to 10,542 pts, turnover at SAR 2.9BSaudi Arabia's TASI closed 0.5% lower at 10,542 points on Oct. 7, with turnover near SAR 2.9 billion. Al Rajhi fell 1% to SAR 63.20, while Acwa dropped 3% to SAR 171.10. Saudi Aramco rose less than 1% to SAR 25.84.DailynewsegyptEgypt targets 10 million cubic metres of daily desalinated water productionEgypt's Prime Minister Mostafa Madbouly met with ACWA Power officials to review desalination cooperation, with Egypt targeting 10 million cubic metres of desalinated water per day. The government plans to expand capacity through modern plants and advanced technologies, while ACWA Power reaffirmed its commitment to deepening cooperation.The future of tradingAcwa, Saudi Energy secure funding for Rabigh 2 expansion projectACWA Power and Saudi Energy secured 9.69 billion Saudi riyal ($2.59 billion) for the Rabigh 2 CCGT expansion project in Makkah. The 2,313.5 MW plant, carbon-capture ready, will start commercial operations in Q2 2029. Each company holds a 40% stake.InterfaxUzbekistan plans to complete construction of 500 kV power line under ACWA energy project in 2028Uzbekistan plans to complete a 350 km double-circuit 500 kV power line from Samarkand to Tashkent in Q1 2028 under an ACWA project. The line, using new supports, will integrate a 1,000 MW solar plant and 1,336 MWh storage, with a 150 km 220 kV line 50% complete.The future of tradingACWA Power Achieves Financial Close For Rabigh 2 IPP Expansion Project In Saudi ArabiaACWA Power achieved financial close for the Rabigh 2 IPP expansion project in Saudi Arabia, with financing of SAR 9.69 billion over approximately 34 years. The company expects to develop, build, own, and operate a combined cycle power plant, with financial impact from operations reflected from Q2 2029 onwards.BusinessGhanaInternational Oil Companies (IOCs) Build the Case for Mauritania, Senegal, Gambia, Bissau, & Conak..The MSGBC basin is shifting from frontier exploration to commercial gas production, with the GTA LNG project reaching commercial operations in mid-2025 at 2.4 million tons per annum. Mauritania's ACWA Power plant and Guinea-Bissau's Chevron interests are advancing, while the African Atlantic Gas Pipeline aims for intergovernmental agreement by Q4 2026.Energy-Storage.NewsGotion to supply 6GWh of battery storage for Saudi Arabia's first utility-scale BESS tenderGotion High-Tech was confirmed as the battery supplier for three Saudi projects totaling 6GWh under an ACWA Power-led consortium. The sites, each 500MW/2GWh, represent about 75% of the tender's 8GWh capacity, valued at roughly $1.16 billion. The award marks Gotion's first international large-scale deployment of its utility-scale storage system.TrendAzerbaijan rich in renewable energy resources alongside oil and gas — ACWA PowerACWA Power CEO Selim Güven said Azerbaijan is rich in renewable energy resources, making it a hub for connectivity between Central Asia, the South Caucasus, Türkiye, and Europe. He noted ACWA Power began preparing investments in Azerbaijan in the early 2020s, emphasizing renewable projects' role in carbon reduction and resource security.ArgaamAcwa starts initial commercial operations at Qassim 1 plantAcwa began initial commercial operations at the Qassim 1 combined-cycle gas turbine plant, receiving an Initial Commercial Operation Certificate for 1,283 MW out of 1,896 MW total capacity. The company expects the financial impact to appear from Q4 2026 onwards.The future of tradingACWA Power begins commercial operations in two Saudi power plantsACWA Power began initial operations at two combined cycle gas-turbine plants in Saudi Arabia, Taiba 1 and Qassim 1. The plants have combined production capacity of 3,800 MW, with Taiba 1 generating 1,272 MW and Qassim 1 generating 1,283 MW. The company expects full operation in the second quarter of 2027.