ACWA Power
TTADAWUL:2082150.00
SAR
-3.90
(-2.53%)
ACWA Power
TADAWUL:2082
(Saudi Exchange)
Recent
price
150.00
P/E
ratio
- -
div
yld
0.11%
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- ACWA Power Company (Tadawul: 2082) develops, owns, operates, and invests in power generation, water desalination, and renewable energy projects worldwide. The company offers independent water and power projects (IWPPs), independent power projects (IPPs), independent water projects (IWPs), solar photovoltaic plants, wind farms, battery storage systems, and green hydrogen production facilities; it also provides engineering, procurement, and construction (EPC) services, operations and maintenance (O&M) solutions, and development consulting for utilities and infrastructure. ACWA Power operates across 12 countries, including Saudi Arabia, the United Arab Emirates, Jordan, Egypt, Morocco, and South Africa, targeting government utilities, private off-takers, and international energy markets with a focus on sustainable and low-carbon technologies [ from prior]. Founded in 2004 and headquartered in Riyadh, Saudi Arabia, ACWA Power manages a portfolio exceeding 75 gigawatts (GW) of power capacity and over 9 million cubic meters per day (mcmd) of desalination capacity in various stages of operation, construction, and development. The company serves as a key player in the Middle East and Africa's energy transition, with segments spanning conventional thermal power, renewables, and water infrastructure [ from prior]. In the last two years, ACWA Power secured multiple high-profile project awards, including the 6 GW Sudair Solar PV project in Saudi Arabia—the world's largest single-contract solar initiative—and the 2 GW Al-Shuaibah 2 IWP for water desalination. It formed strategic partnerships, such as with China State Construction Engineering Corporation (CSCEC) for renewable developments in Uzbekistan and with Air Products for the $8.4 billion NEOM Green Hydrogen project, one of the largest green hydrogen facilities globally. Additionally, the company expanded through acquisitions like a stake in the Hassyan desalination plant in Dubai and raised financing for projects including the $2.5 billion Sakaka Solar PV initiative, alongside operational ramp-ups in battery storage and green ammonia production [ from prior][ from prior].