ACWA Power reports profit drop as portfolio expands to 98 GW

Saudi Arabia's ACWA Power announced that its net profit for the first half of 2026 fell 28% to SAR 653 million, down from SAR 909 million a year earlier. The decline was attributed mainly to timing delays of several large projects, which pushed expected revenues into the second half of the year.

Despite the earnings dip, the company said its total installed and under‑development power generation capacity reached 98.2 GW, and its water‑desalination capacity grew to 9.7 million cubic metres per day across 16 countries. New additions of 5.2 GW of power and 0.6 million m³/day of desalination increased assets under management by roughly SAR 30 billion, bringing portfolio value to about SAR 475 billion. Operational performance remained strong, with power assets showing availability above 92% and desalination plants above 98%.

Market analysts noted that after a sharp correction from its all‑time high, ACWA Power’s stock appears to be entering a base‑building phase. They highlighted improving book‑value per share, resilient EBITDA, and continued expansion of renewable‑energy, water‑desalination, and green‑hydrogen projects, suggesting a focus on long‑term cash‑flow potential rather than short‑term earnings.