The Saudi Power Procurement Company (Principal Buyer) has prequalified 27 leading developers including global utility majors EDF, Kepco and Marubeni as well as regional heavyweights Masdar and Acwa for its second group of Battery Energy Storage System (BESS) projects with a total capacity of 12,000 MWh.
Acwa Power Philippines, a subsidiary of Acwa Power Company, has signed a contract of lease (COL) with the Bases Conversion and Development Authority (BCDA) for a 500-hectare site within New Clark City, marking a milestone in the Philippines' clean energy and industrial transformation agenda.
Acwa Power Philippines, a subsidiary of Acwa, has signed a Joint Development Agreement (JDA) with Emerging Power (EPI), the clean energy arm of Nickel Asia Corporation (NAC), to jointly pursue up to 5,000 MW of renewable energy and gas-fired generation capacity across the Philippines.
ACWA reported Q1 2026 results with SAR455 billon ($121 billion) asset base across 109 assets. Gross capacity reached 95.7GW, including 52.3GW renewable. Net profit fell to SAR345 million, reflecting lower development income compared with a strong Q1 2025.
Saudi-listed Acwa has signed $226 million of financing agreements for the Bash II 300 megawatts (MW) Wind Farm in Uzbekistan at the 2026 Asian Development Bank (ADB) Annual Meeting.
Acwa signed a $3 billion power purchase agreement (PPA) with Saudi Power Procurement Company for the Rabigh 2 expansion, a 2,313.5 MW gas-fired plant in Makkah, including future carbon capture readiness and a 380 kV substation upgrade.
Saudi utility major Acwa has reported solid results for FY 2025 with its revenue soaring to hit SAR7.41 billion ($1.97 billion) and its net profit recording a 60% growth over the previous year as higher operating income and stronger contributions from operating assets lifted earnings.
Bahrain's Electricity and Water Authority (EWA) has announced that it has received bids from leading utility developers - Saudi group Acwa (formerly Acwa Power) and Spanish major GS Inima Environment - for its landmark Hidd Independent Water Production (IWP) Project.
Acwa, the world’s largest private water desalination company, has appointed Dr. Samir J. Serhan as its new Chief Executive Officer. An industry veteran, he brings more than three decades of global leadership experience across large-scale industrial and infrastructure organisations to the new role.
Acwa signed Investment and PPA Key Terms with Türkiye’s Ministry of Energy and EÜAŞ to develop 5 GW of renewable energy, starting with 2 GW of solar at Sivas and Taşeli, with energy sales agreements in place.
