ACWA Power has demonstrated robust financial growth and a significant expansion of its renewable energy portfolio, with impressive results for the first nine months of 2025. The company’s strategic push into clean energy is highlighted by major solar PV projects across North Africa and the Middle East, cementing its role as a key player in the global energy transition.
Financial Performance and ACWA Power solar growth Investments
ACWA Power, a leading Saudi-listed utility developer, has posted strong financial results, underscoring the success of its growth strategy. For the first nine months of 2025, the company reported a 17% year-on-year increase in operating income. Net profit attributable to equity holders reached an impressive SAR 1.28 billion, fueled by contributions from newly operational assets and a strong development pipeline. This period saw ACWA Power add 7 GW of power capacity, 600,000 m³/day of desalinated water, and 3,000 tonnes per annum of green hydrogen to its portfolio.
A cornerstone of this expansion is the company’s investment in Tunisia. ACWA Power has advanced its solar PV initiatives by signing a power purchase agreement (PPA) with the Tunisian government for a 100 MW solar PV project in Kairouan. This landmark project is set to provide clean, affordable energy to over 100,000 homes. The successful execution of such a large-scale project relies on a complex and efficient solar panel manufacturing process to produce the required high-performance modules.
The Kairouan project is a critical component of Tunisia’s national strategy to generate 30% of its electricity from renewable sources by 2030. ACWA Power’s participation not only aligns with its own expansion goals in the Middle East and North Africa (MENA) region but also provides a significant boost to Tunisia’s clean energy ambitions. The company continues to explore further opportunities in the country, engaging in discussions to develop additional solar projects.
Algeria’s Solar PV Projects and ACWA Power solar growth
Expanding its North African footprint, ACWA Power is also making significant inroads in Algeria. The company secured a contract to develop a 150 MW solar PV project, a key part of Algeria’s ambitious plan to add thousands of megawatts of renewable energy capacity.
This project is poised to play a pivotal role in Algeria’s shift away from fossil fuels, contributing to reduced carbon emissions and helping to meet the country’s rising energy demand with sustainable sources. The construction of such facilities involves understanding the basics of solar panel manufacturing to ensure quality and efficiency. The Algerian government has been a strong proponent of renewable energy, and ACWA Power’s project is one of several initiatives designed to rapidly scale the nation’s green energy output and achieve its long-term transition goals.
North Africa’s Renewable Energy Expansion and ACWA Power solar growth
ACWA Power’s strategic investments in Tunisia and Algeria are part of a broader vision to lead the energy transition across the MENA region. These projects demonstrate a powerful commitment to sustainable development, creating local jobs, and fostering economic growth alongside environmental benefits.
In Tunisia, the Kairouan solar PV project is seen as a milestone. The government has welcomed the investment, recognizing its potential to not only deliver clean power but also to stimulate the regional economy. The project’s success hinges on securing high-quality solar panel raw materials and deploying advanced technology.
Similarly, in Algeria, ACWA Power’s development is a crucial step towards diversifying the national energy mix. Beyond North Africa, the company has also recently launched operations at three major solar projects within Saudi Arabia, reinforcing its commitment to its home market and supporting the Kingdom’s own renewable energy ambitions. This multi-faceted expansion highlights the company’s expertise in managing complex, large-scale projects, from initial investment analysis, which includes a detailed solar panel manufacturing plant cost breakdown, to final operation.
ACWA Power’s continued growth and project successes position it as an indispensable partner for governments pursuing a sustainable energy future. As the company expands its portfolio of solar, wind, and green hydrogen projects, its influence on the region’s clean energy landscape is set to grow even stronger.
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