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Saudi Arabia - Acwa Power, a Saudi-listed company and the largest private water desalination company, has been recognised by Global Water Intelligence (GWI) as the world’s largest water project developer outside of China.
Also the first mover into green hydrogen, and a leader in energy transition, Acwa Power takes a significant lead on GWI’s July list of top global water project developers, with 6.8 million cu m per day of gross capacity and 3.2 million cu m per day of net capacity.
In 2022 alone, the company added 2.4 million cu m per 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.
On the key recognition, CEO Marco Arcelli 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."
The 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.
"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," he stated.
"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," said Arcelli.
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, he added.
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