THE MIDDLE EAST’S
16. Acwa
Country: Saudi Arabia
Sector: Utilities
CEO: Samir J Serhan
Market Value: $38.3 billion
In early 2026, ACWA Power rebranded to Acwa, marking its evolution into a global infrastructure player with $115 billion in assets under management across 15 countries. It delivers 93 GW of power and 9.3 million cubic meters of desalinated water daily, while expanding green ammonia production beyond 1.2 million metric tons annually. In 2025, it signed new clean-energy and financing agreements worth $10 billion across the GCC, China, Central Asia, and Africa.