ACWA Power, a Saudi-listed company and the world's largest private water desalination company, the first mover into green hydrogen, and a leader in energy transition, has been recognised by Global Water Intelligence (GWI) as the world’s largest water project developer outside of China.
ACWA Power takes a significant lead on GWI’s July list of top global water project developers, with 6.8 million m3/d of gross capacity and 3.2 million m3/d of net capacity. In 2022 alone, the company added 2.4 million m3/day of water desalination capacity via four desalination plants in Saudi Arabia, Bahrain, and the UAE—the highest in its history. The figures reflect ACWA Power's success in the highly competitive GCC desalination market, speaking to its capability in consistently securing development contracts for the most significant independent water projects in the region.
Commenting on the news, Marco Arcelli, CEO of ACWA Power, said: “We are honoured to have been recognised by an esteemed organisation such as the Global Water Intelligence as the world’s largest water project developer outside of China. Our impact extends beyond Saudi Arabia. We are already present in 12 countries and counting, with our water portfolio represented in 4 of them, and we plan to more than double our capacity by 2030. We plan to invest in new markets in Central Asia, China, Southeast Asia, Africa, and of course the Middle East.”
“Most importantly, we are incredibly proud of our teams that tirelessly strive and work closely with local communities and other stakeholders to ensure our projects are aligned with our commitment to provide potable water in a responsible, sustainable and cost-effective manner,” added Arcelli.
GWI’s list covers private and semi-private companies that have delivered water and wastewater treatment projects using private finance by taking equity stakes in project companies, covering both the gross capacity and the aggregated capacity based on the percentage size of stakes they hold in the plants.
With more than 15 Integrated Water Projects (IWPs) in the pipeline for the next five years in the GCC, ACWA Power is well-positioned to take advantage of these opportunities, while expanding its reach into emerging markets.