Saudi-listed ACWA Power has reported a net profit attributable to equity holders of SAR 1.9 billion for the financial year ended December 31, 2025, as the company continued to expand its global portfolio of power generation and desalination assets.

The company stated that its adjusted net profit increased by 60% year-on-year to SAR 2.2 billion, reflecting strong underlying earnings growth. Operating income rose 20% to SAR 3.6 billion before impairment losses and other expenses, supported by higher contributions from development activities and operational assets.

During 2025, ACWA Power achieved financial closure on 15 projects with a total investment value of SAR 70 billion, marking a record year for project closures. The company also signed nine power purchase agreements (PPAs) and three water purchase agreements (WPAs), while completing acquisitions in Bahrain, Kuwait, and China.

These additions expanded ACWA Power’s portfolio by 25 GW of power generation capacity and 2.1 million cubic metres per day of water desalination capacity. By the end of the year, the company’s portfolio comprised 108 assets across 15 countries, with total power capacity reaching 93 GW and desalinated water capacity at 9.2 million cubic metres per day. The company reported assets under management of SAR 437 billion (USD 117 billion).

Dr. Samir J. Serhan, Chief Executive Officer of ACWA Power, said the company would continue to build on the growth momentum established in recent years, focusing on disciplined market expansion, operational transformation, and strong project execution to enhance profitability.

Chief Financial Officer Abdulhameed Al Muhaidib stated that the company strengthened its balance sheet through a successful capital raise of SAR 7.1 billion and the acquisition of operating assets during the year. The firm also completed a rights issue worth SAR 7.1 billion (USD 1.9 billion), with funds primarily directed toward supporting its growth projects.

ACWA Power’s acquisitions in Bahrain, Kuwait, and China included nine projects with a combined capacity of 4.9 GW of power generation and 1.1 million cubic metres per day of desalination capacity.

By the end of 2025, renewable energy accounted for 56% of the company’s total installed power capacity, reaching 52.3 GW. Battery energy storage capacity stood at 5.6 GWh, while the company’s operational portfolio included 43 GW of power generation, 6.3 million cubic metres per day of desalinated water, and around 3,000 tonnes per year of green hydrogen production.

Operational performance indicators also remained strong, with the company reporting a lost time injury rate (LTIR) of 0.01, unchanged from 2024. Power availability stood at 91.2%, while water availability improved to 98.7%.

Looking ahead to 2026, ACWA Power said it will focus on safety, operational excellence, disciplined growth, and cost optimisation while continuing to create long-term value for shareholders and partners.