The Middle East's

Top 100 Listed
Companies 2022

57. ACWA Power *

Country: Saudi Arabia

Sector: Utilities

CEO and Vice Chairman: Paddy Padmanathan

Market Value: $26.4 billion

Sales: $1.4 billion

Profits: $198 million

Assets: $12.2 billion

ACWA Power develops, invests, and operates power, water desalination, and green hydrogen plants. The company is present in 12 countries and employs around 3,500 people across the Middle East, Asia, and Africa. As of December 31, 2021, ACWA Power’s portfolio comprised 64 projects in operation, construction, or advanced development in 12 countries. These projects have a value of $67.1 billion at total investment cost, with capacity to generate 42.7 GW of electricity and produce 6.4 million m3 per day of desalinated water. ACWA Power leads the consortium to power Saudi’s Red Sea Development with 100% renewable energy.