ACWA Power Company (2082.SR)

ACWA Power Company, together with its subsidiaries, engages in the investment, development, operation, and maintenance of power generation, water desalination, and green hydrogen production plants in the Kingdom of Saudi Arabia, the Middle East, Asia, and Africa. The company operates through Thermal and Water Desalination; Renewables; and Others segments. It generates power through fossil fuel, such as oil, coal, and gas. The company also sells electricity, desalinated water, and green hydrogen and/or green ammonia. In addition, it installs, maintains, and operates contracting of electricity generation, and desalination plants; power plants; generating renewable energy using photovoltaic, concentrated solar power, wind plants, and hydrogen sources; investment in industrial and commercial enterprises and management; and managing office; and provision of financial advisory, book-keeping and reporting, tax compliance, and related services, as well as reinsurance services. Further, the company constructs, owns, buys, manages, operates, and invests in industrial, services and construction projects of power stations, electricity, steam stations, water desalination plants and provides operation and maintenance under long-term contracts; and supplies power, water, desalinated water, and steam. The company was formerly known as International Company for Water and Power Projects and changed its name to ACWA Power Company in January 2022. ACWA Power Company was founded in 2004 and is headquartered in Riyadh, the Kingdom of Saudi Arabia.