• MyLove @M
• 19 Feb, 2025

Saudi Arabia’s ACWA Power has announced a major expansion acquiring stakes worth 693 million dollar in power generation and water desalination companies in Bahrain and Kuwait. The deal aligns with the company’s mission to deliver sustainable energy and water solutions across the region.

ACWA Power’s Strategic Expansion

The company has purchased stakes in four major companies from Engie a French energy developer expanding its reach in the Gulf Cooperation Council (GCC) markets.

Bahrain Acquisitions

  - 45% stake in Al-Ezzel and Al-Dur power projects.

  - 30% stake in Al-Hidd power and desalination facility.

Kuwait Acquisition

  - 18% stake in Az Zour North.

The acquisition reinforces ACWA Power’s goal of providing low-cost, reliable and sustainable energy, desalinated water and green hydrogen to local markets.

Strengthening Market Presence

ACWA Power CEO Marco Arcelli stated that this deal is a “Major Milestone”, increasing the company’s impact in Bahrain while entering Kuwait for the first time. He added,

- “Expanding in these regions allows us to develop local talent, enhance operations and provide secure and affordable energy and water to communities.”

The company also secured stakes in operations and maintenance firms ensuring smooth management of assets. 

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Project Details & Future Goals

- Total operational capacity

  - 4.61 gigawatts of gas-powered electricity.

  - 1.11 million cubic meters/day of desalinated water.

- Growth Strategy

  - Expand to $250 billion in managed assets by 2030.

  - Strengthen foothold in fast-growing energy markets.

This acquisition boosts ACWA Power’s leadership in the Middle East’s energy and water sector, positioning the company for future green energy expansion.