A strong first-quarter performance in 2025 has reinforced Acwa Power’s leadership in the global transition to clean energy and sustainable infrastructure.
The company reported a 117 per cent rise in operating income to SAR 870 million (USD 231 million), while net profit attributable to equity holders climbed 44 per cent year-on-year to SAR 427 million, reflecting its strategic pivot towards renewable energy and water solutions.This remarkable growth was driven by higher income from project development and construction management services, indicating successful execution of its expansion strategy in green energy and desalination. The performance aligns with the broader push across the Middle East and North Africa to reduce fossil fuel dependence and align with net-zero targets.
During the quarter, the company commissioned 9.7 GW of renewable and clean energy capacity and expanded its desalination capabilities by 1.4 million cubic metres per day. This brings its operational portfolio to 101 assets, representing a total investment of USD 107 billion. These projects contribute to a combined gross power generation capacity of 78.9 GW, alongside 5.3 GWh of battery energy storage systems and 9.5 million cubic metres per day of desalinated water.
The scale of expansion underscores the company’s alignment with Saudi Arabia’s ambitious Vision 2030 renewable energy target of 130 GW. Many of its upcoming projects are part of the “next giga wave,” aimed at transforming the energy mix while creating jobs, fostering innovation, and reducing the kingdom’s carbon footprint.
Significantly, several key renewable assets became operational during the quarter, while the Noor 3 concentrated solar power plant resumed full operations after a prolonged outage, reinforcing the company’s operational resilience.
In addition to its clean energy push, the firm signed a share purchase agreement earlier this year to acquire operational gas and desalination assets from a European utility major. This acquisition, expected to close later in 2025, will add 4.6 GW of power generation capacity and 1.1 million cubic metres per day of desalinated water, further strengthening its revenue visibility and cash flow stability.
As nations look to adopt more sustainable and climate-resilient infrastructure, the company’s diversified portfolio of green assets positions it at the heart of this transition. Its integrated approach—spanning renewables, desalination, and energy storage—is not only helping power cities but also making them more resilient, equitable, and environmentally sustainable.
Amid growing global urgency around decarbonisation and water security, the company’s long-term strategy is clearly anchored in sustainable value creation. With major renewable projects underway and new investments being mobilised, its roadmap remains critical for cities seeking to balance growth with ecological responsibility.
Acwa Power boosts renewables with strong quarter