Acwa’s Q1 2026 results unhurt by geopolitical tensions: CEO

The first-quarter performance reflected the resilience of the company’s project portfolio and the progress of its transformation plan, he added in a statement.

According to the top executive, Acwa has 32 projects under execution, with a production capacity of 44.2 GW of energy and 2.6 million cubic meters per day of water desalination capacity.

The first quarter witnessed the award of the company’s first new project in Kuwait, which added a total generation capacity of 2.7 GW and 600,000 cubic meters of desalinated water per day.

Acwa also completed the financial close of the Nukus 2 wind power project in Uzbekistan, with an investment of SAR 1 billion, which strengthened the company’s long-term contracted revenue base, said Serhan.

He explained that the first quarter also saw the commercial operation of two projects, which added 0.77 GWh of battery energy storage systems and 600,000 million cubic meters per day of desalinated water.

According to data available with Argaam, Acwa’s profit declined to SAR 344.8 million by the end of Q1 2026, compared to SAR 427.2 million during the same period in 2025.