1. ACWA Power was formed in 2002 by Saudi firms to invest in power generation and desalinated water projects. It has since grown rapidly, with a presence in 12 countries in the Middle East, Africa, and Asia.
2. ACWA Power is a leader in green hydrogen production, with multiple projects underway, including the world’s largest utility-scale commercially based green hydrogen facility in Saudi Arabia.
3. The company operates on a unique develop-invest-operate-optimize model, focusing on bringing in technology, financing, and partners from around the world to maintain its competitive edge in the energy market.
In 2002, the Saudi Arabian government opened power and desalinated water production to the private sector, leading to the formation of ACWA Power by local firms. Over the past two decades, ACWA Power has rapidly grown into an energy giant with operations across 12 countries in the Middle East, Africa, and Asia. The company not only has a significant power production portfolio but also leads in water desalination and green hydrogen production.
Under Saudi Arabia’s Vision 2030, ACWA Power CEO Marco Arcelli sees a unique opportunity for growth and transformation. The company aims to triple its size by 2030 through innovative business models and strategic initiatives. Arcelli highlights ACWA Power’s unique approach of developing, investing, operating, and optimizing energy projects as a key factor in its success.
ACWA Power leverages technological innovation and strategic partnerships to maintain its competitive edge in the power industry. The company focuses on scouting the world for the best solutions and collaborating with partners to drive efficiency and sustainability. ACWA Power aims to continue expanding its leadership in desalination and green hydrogen technologies globally.
The company faces challenges related to scaling up and institutionalizing its operations, with a focus on developing and nurturing local talent. ACWA Power is working on various training and development programs to ensure a skilled workforce for its expanding operations. Looking ahead, the company sees opportunities in clean energy production across Africa and other regions, advocating for collaboration between governments, private sector, and investors to accelerate the energy transition.