Saudi-listed ACWA Power, the world’s largest private water desalination company, and a leader in energy transition and first mover into green hydrogen, todayannounced its consolidated financial results for the six months ended 30 June 2025.
The Company’s adjusted net profit—attributable to equity holders of the parent—has increased by 62% (SAR 449 million) versus the comparable period of 2024 and reached SAR 1,172 million. The Company’s reported net profit has on the other hand marginally dropped by 1.9% mainly due to an impairment charge in one of it’s affiliated companies.
Operating income before impairment losses and other expenses reached SAR 2,207 million, increasing by SAR 818 million mainly on account of higher development business and construction management services along with higher contribution from operations.
ACWA Power has marked a remarkable first half of 2025 by signing nine Power Purchase Agreements (PPAs) totaling 20 GW of new power capacity, including 15 GW in July in Saudi Arabia as part of the country’s renewable energy program under the framework of Vision 2030.
In the water business, ACWA Power also signed two Water Purchase Agreements (WPAs), which will add 700,000 cubic meters per day (m³/day) of new desalination capacity once the projects reach their commercial operation dates.
ACWA Power earlier had announced a Share Purchase Agreement (SPA) to acquire several power and water assets in Bahrain and Kuwait, adding 4.6GW power and 1.1 million m³/day water capacity on its advanced development portfolio. Once the transaction is closed, these capacities will account as operational since the acquired assets are fully operational.
Marco Arcelli, Chief Executive Officer of ACWA Power, commented: “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.”
Abdulhameed Al Muhaidib, Chief Financial Officer, commented: “Our strong pipeline conversions, operational performance, disciplined acquisitions, and the overwhelming response to our capital raise reflect robust and resilient steps in our business management. We are not only delivering value today, but we are also securing our position as a leader in tomorrow’s global energy and water markets.”
Complementing these achievements, a major milestone during this period was the successful completion of ACWA Power’s capital raise through a Rights Issue, generating SAR 7.125 billion in proceeds. The issuance saw a 96% subscription rate and was nearly six times oversubscribed, reflecting strong confidence from both local and international investors in the Company’s growth trajectory and long-term value creation. As a result, foreign ownership in ACWA Power has now increased to 4.27%, further broadening the Company’s global investor base.
During the period, the Company successfully achieved financial close for two projects, with a total investment value of SAR 2.4 billion, supporting ACWA Power’s commitment to disciplined and impactful capital deployment.
3.3 GW of new power capacity and 600,000 m³/day of desalination capacity achieved commercial operation dates brought online, underscoring the Company’s track record for completing the construction and bringing plants online across its global portfolio.
Looking ahead, ACWA Power is laying the foundation for transformative growth in green hydrogen and renewable energy exports. The Company signed strategic agreements with global partners to develop a Green Hydrogen and Renewable Energy Export Corridor between Saudi Arabia and Europe, an initiative that aligns with both Vision 2030 and Europe’s decarbonization goals.
Moreover, ACWA Power is expanding its geographic footprint in Southeast Asia. Through recently signed MoUs and Strategic Partnership Agreements in Malaysia, the Company is exploring investment opportunities, with a focus on renewable energy, water, and hydrogen infrastructure.
ACWA Power continues to accelerate toward its strategic goals, including reaching assets under management of USD 250 billion by 2030, expanding into high-potential markets, and delivering sustainable infrastructure that powers economies and improves lives.
ACWA Power’s interim financial statements for the six months ended 30 June 2025 issued by KPMG Professional Services (the Company’s Certified Public Accountants), along with the Investor Report including a management’s discussion and analysis on the financial results, are available on the Company’s Investor Relations page at http://acwapower.com/en/investor-relations/