ACWA Power has 25 projects in the advanced development stage, which are valued at $25.76 billion as of 30 June 2025, according to its second quarter 2025 financial statement.

The total contracted power and water capacity stands at 22,008 megawatts (MW) and 1,824 cubic metres per day (m3/day).

Total assets under construction and partially operational reached $26.18 billion, with a total contracted power and water capacity of 22,455 MW and 1,451 m3/day.

Operational capacity reached 2,860 MW, while under-construction capacity stands at 19,595 MW and 14,51 m3/day.

Total operations assets stand at 57, valued at $55.52 billion, with operational power and water capacity at 34,429 MW and 6,194 m3/day as of 30 June 2025.

ACWA Power financially closed two projects with an aggregate total investment cost of around 2.4 billion Saudi riyals by the end of June 2025.

The company’s gross power capacity reached 78.9 GW, 9.5 million m3/day, 1.2 million tonnes per annum of green ammonia, and 5.3 GWh of battery energy storage system (BESS).

Assets under management totalled SAR403 billion by the end of June 2025. 

Green Hydrogen

NEOM Green Hydrogen is expected to come online in the fourth quarter of 2026 with a capacity of 220 Ktonnes per annum, the statement said.

The company has also commenced design work on a new green hydrogen project in the Kingdom. In August, ACWA Power awarded a convertible front-end engineering design (FEED) contract for the Yanbu Green Hydrogen Project to a consortium of Spain’s Tecnicas Reunidas and China’s Sinopec Guangzhou Engineering.  The multibillion facility, which is scheduled to start commercial operations by 2030, will utilise 5 gigawatts (GW) each of wind and solar power, coupled with a 400 km transmission line and up to 4.4 GW of electrolysers to annually produce 400,000 tonnes of green hydrogen, which will be converted to 2.5 million tonnes of green ammonia to facilitate its export to international markets.

In February, ACWA Power and Germany’s SEFE signed an agreement to explore building a hydrogen bridge between Saudi Arabia and Germany, starting with the supply of 200,000 tonnes of green hydrogen annually by 2030.

In May, the company signed a memorandum of understanding (MOU) with Malaysian Investment Development Authority (MIDA) to develop energy projects, including green hydrogen, targeting 12.5 GW of capacity by 2040 through an estimated investment of $10 billion.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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