ACWA Power has reported strong financial and operational performance for the first quarter of 2026, reflecting the company’s continued expansion in the global renewable energy and water desalination sectors. The company announced that its total assets under management have now reached SAR 455 billion, highlighting its growing role in the global energy transition market.
The company stated that the first quarter witnessed major progress through new project wins and the successful financial closure of several renewable energy and green hydrogen projects. These developments helped ACWA Power strengthen its presence in existing markets while also entering new regions. The company noted that these projects align with its long-term strategy of providing affordable and sustainable energy and water solutions to support global decarbonization efforts.
According to the financial results, ACWA Power also achieved stable growth in net profits compared to the same period last year. The company attributed this growth to the reliable performance of its diversified portfolio, which includes solar power plants, wind projects, concentrated solar power facilities, and large-scale desalination plants. Management emphasized that the company’s long-term off-take agreements and disciplined project development approach continue to provide stable and predictable cash flows.
A major focus area during the quarter was the advancement of ACWA Power’s green hydrogen business. The company is currently involved in developing some of the world’s largest green hydrogen production projects, positioning itself as an early leader in the emerging sustainable fuels market. ACWA Power said it is using its renewable energy expertise and technological capabilities to support the production of clean hydrogen at competitive costs.
The company also highlighted its commitment to innovation and technology as key drivers behind reducing renewable energy production costs. In addition, ACWA Power reaffirmed its focus on environmental, social, and governance (ESG) principles. Through its investments in clean energy and efficient water production technologies, the company said it continues to contribute to sustainability targets and economic development in the countries where it operates, especially under Saudi Arabia’s Vision 2030 program.
Looking ahead, ACWA Power plans to continue expanding by participating in new tenders across Central Asia, Africa, and Southeast Asia. The company said it remains committed to operational excellence, digital transformation, and the optimization of existing assets. With a strong project pipeline and a solid financial position, ACWA Power expressed confidence in maintaining long-term growth and continuing its leadership in the global renewable energy and green hydrogen sectors.
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