Saudi Arabia’s ACWA Power, the world’s largest private water desalination company and a global leader in energy transition, has announced a 62% year-on-year increase in adjusted net profit for the first half of 2025, reaching SAR 1.17 billion. The significant rise is attributed to robust operational performance, project expansion, and growth in development and construction management services.
Despite this strong result, the company’s reported net profit saw a marginal decline of 1.9%, primarily due to an impairment charge linked to one of its affiliated entities.
Operating income before impairments and other expenses rose by SAR 818 million to SAR 2.2 billion, supported by higher contributions from project development and existing operations. The financial figures were released as part of the company’s consolidated interim results for the period ending June 30, 2025.
ACWA Power marked a milestone period by signing nine new Power Purchase Agreements (PPAs) with a combined capacity of 20 gigawatts (GW), including 15 GW under Saudi Arabia’s Vision 2030 renewable energy programme. In parallel, the company secured two Water Purchase Agreements (WPAs), which are expected to add 700,000 cubic metres per day of desalination capacity upon completion.
In a strategic regional move, the company entered into a Share Purchase Agreement (SPA) to acquire fully operational power and water assets in Bahrain and Kuwait, bringing 4.6 GW of electricity and 1.1 million m³/day water capacity into its advanced development pipeline.
Commenting on the results, Marco Arcelli, Chief Executive Officer, stated, “What we’ve achieved so far in 2025 is a testament to our scale, agility, and long-term partnerships. We expect to double in size again over the next five years as we accelerate our role in the global energy transition.”
Chief Financial Officer Abdulhameed Al Muhaidib emphasized the strength of the company’s financial management: “From operational execution to capital raising, we are delivering value today while reinforcing our future position in the global water and energy sectors.”
A key highlight of the period was the successful completion of a SAR 7.125 billion capital raise via a Rights Issue. With a 96% subscription rate and sixfold oversubscription, the offering drew strong investor interest, increasing foreign ownership to 4.27% and expanding the company’s global investor base.
Operationally, the company brought online 3.3 GW of new power capacity and 600,000 m³/day of desalination capacity, reaffirming its execution capabilities across its international portfolio. ACWA Power also achieved financial close on two major projects valued at SAR 2.4 billion.
Looking ahead, the company is investing in transformative energy projects, including a Green Hydrogen and Renewable Energy Export Corridor between Saudi Arabia and Europe, aligning with Vision 2030 and Europe’s decarbonization efforts.
In Southeast Asia, ACWA Power is actively exploring opportunities in Malaysia through new memoranda of understanding and partnership agreements focused on renewables, water, and hydrogen infrastructure.
With a long-term target of reaching USD 250 billion in assets under management by 2030, ACWA Power continues its upward trajectory as a key enabler of sustainable infrastructure globally.
