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ACWA POWER
Headquaters : Riyadh , KSA CEO : Marco Arcelli Founded : 2004
PIF-backed ACWA Power is a leading and pioneering Saudi developer , investor , and operator of power generation , water desalination and green hydrogen plants worldwide . Since 2004 , the firm has pivoted from conventional power / water towards a low-carbon portfolio of 77 projects in 12 countries with an investment value of US $ 78.2 billion – 86 % of assets utilise lowcarbon technologies for power generation .
Among those projects , ACWA is powering phase one of The Red Sea project , the region ’ s first tourism destination to be fuelled by renewable energy ( see above ), and leading the region ’ s green hydrogen and renewable energy transformation , with participation in the NEOM Green Hydrogen Project , the world ’ s largest utility-scale , commercially-based hydrogen facility powered by renewable energy .
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