44. ACWA Power

Country: Saudi Arabia
Sector: Utilities
CEO: Marco Arcelli
Market Value: $81.9 billion
Sales: $1.6 billion
Profits: $472 million
Assets: $14.7 billion

ACWA Power develops, operates, and invests in power generation, water desalination, and green hydrogen plants. The company’s total aggregate power capacity of its operational, under-construction, and advanced development projects is approximately 55 GW, while its total water desalination capacity reached 7.6 million m3 per day. In December 2023, the company signed an agreement with the Egyptian authorities to develop a green hydrogen project in Egypt with a capacity of 600,000 tons per year of green ammonia at an investment of more than $4 billion, with the intention of scaling it up to a second phase, with a potential capacity of two million tons per year.