BAKU, Azerbaijan, February 25. Saudi-listed ACWA Power reported an operating income before impairment losses and other expenses of $796 million, supported by significant business expansion, Trend reports.
Net profit attributable to equity holders of the parent reached $469 million, marking a 5.7% increase from 2023.
ACWA Power continued its rapid growth, including entering the Chinese market and launching its second green hydrogen project. The company maintained its position as the world's largest private desalination company and expanded its renewable energy capacity, reaching over 69 GW.
In 2024, ACWA Power secured nine financial closings totaling $9.2 billion, with over $26.7 billion in projects under construction - the largest portfolio in its history. The company added 14.3 GW of energy capacity, including 10.7 GW in renewables, and increased desalinated water production by 0.4 million cubic meters per day.
At the end of 2024, ACWA Power's portfolio included 94 assets with a total investment cost of $97 billion, comprising 69.2 GW of power generation, 5.3 GWh of battery energy storage systems (BESS), and 8.1 million cubic meters per day of desalinated water production.