What happens when a company takes the reins of a nation’s boldest energy ambitions? For ACWA Power, the answer lies in transforming Saudi Arabia into a global leader in renewable energy, water desalination, and green hydrogen production. With Vision 2030 as the blueprint, this company is tackling some of the world’s most complex energy challenges head-on. But what makes ACWA Power the force behind Saudi Arabia’s energy transition? And more importantly, can they deliver on the audacious goals set by Vision 2030?
Marco Arcelli, the Italian-born CEO of ACWA Power, certainly believes so. “Vision 2030 is not just a roadmap for the Kingdom; it’s a catalyst for change,” he says. “Our role is to deliver the energy transformation by harnessing the resources of today and innovating for tomorrow.” And ACWA Power is doing just that, positioning itself as a cornerstone of Saudi Arabia’s renewable energy push. But the company’s ambitions don’t stop at the Kingdom’s borders. From Uzbekistan to China, ACWA Power’s reach is growing globally, and fast.
The jewel in its crown? The groundbreaking NEOM Green Hydrogen Project, the world’s largest green hydrogen initiative. Expected to come online in 2026, it will produce 600 tonnes of clean hydrogen daily and eliminate 5 million metric tonnes of carbon emissions annually. Arcelli isn’t shy about its significance: “This project isn’t just about Saudi Arabia—it’s about revolutionizing how the world approaches clean energy.”
Building an empire in an emerging sector takes more than just technology—it requires vision, investment, and courage. ACWA Power has leveraged all three to solidify its place as a leader in green hydrogen. By partnering with Air Products and NEOM, they’ve managed to fast-track a project that could change the face of global energy markets. “We’re not just producing energy; we’re creating a new industrial landscape,” Arcelli explains.
While NEOM captures global attention, ACWA Power is also setting new standards in water desalination, a critical concern for the arid regions of the Middle East. Desalination has long been energy-intensive, but ACWA Power has dramatically reduced its environmental impact by shifting from thermal to reverse osmosis technology. “We’ve cut energy consumption by 87% over the last decade,” Arcelli points out, “and that’s just the beginning.” ACWA Power’s plants now integrate solar power to offset grid dependency, an innovation that’s as much about sustainability as it is about efficiency. As Arcelli puts it, “We’re delivering clean water, but we’re doing it smarter.”
The company’s innovation doesn’t stop there. ACWA Power is also setting world records for the lowest tariffs in renewable energy projects. The cost of solar PV and wind technology has plummeted, and ACWA Power has harnessed this to deliver electricity at unprecedented prices. “Today, solar energy is the cheapest form of power generation. The challenge now is scaling it up fast enough to meet the growing demand,” Arcelli says.
Vision 2030’s renewable energy targets are ambitious—no one disputes that. But with ACWA Power delivering 70% of Saudi Arabia’s National Renewable Energy Programme (NREP), the future looks promising. From solar mega-projects like Shuaibah 1 & 2 to their green hydrogen initiatives, ACWA Power is helping Saudi Arabia make good on its promise to lead the global energy transition. And with global investment flowing in, the company is increasingly viewed as a safe bet for international partners.
“We’re powering more than just energy—we’re driving the future of a sustainable Saudi Arabia.”
Marco Arcelli, CEO ACWA Power
But what makes ACWA Power so confident in its ability to meet these targets? Arcelli believes it’s the company’s approach to partnerships. “We’ve built strong government-to-government relationships, and we’re proactive in managing our supply chain and regulatory hurdles,” he explains. “It’s all about ensuring that we have the right mix of resources, capital, and expertise to deliver on these projects.” And deliver they have, with ongoing projects in 13 countries and plans to triple the size of their business by 2030.
The energy transition isn’t just about scaling up renewable power. ACWA Power is also focused on capacity building through initiatives like its Energy and Water Academy (EWA). The academy trains Saudi youth in the technical skills needed for renewable energy and water desalination, aligning with the Kingdom’s broader goals of diversifying its workforce. “By investing in talent, we’re ensuring the sustainability of our own business and the energy transition as a whole,” Arcelli says.
So, can ACWA Power truly meet the towering goals of Vision 2030? If the company’s track record is anything to go by, it seems likely. But with the global push for sustainability intensifying, ACWA Power’s leadership role will be tested in new and complex markets. “The energy transition is not linear; it’s dynamic, and it requires constant adaptation,” Arcelli acknowledges. “But we’ve built the foundation—we’re ready for what’s next.”
Q&A with Marco Arcelli, CEO, ACWA Power
How does ACWA Power align its strategy with Saudi Arabia’s Vision 2030?
Vision 2030 is the foundation of our strategy. We’re delivering 70% of Saudi Arabia’s National Renewable Energy Programme by 2030, and this involves not only solar and wind energy but also projects like NEOM, which will lead the world in green hydrogen production.
What role does ACWA Power play in green hydrogen development?
We are leading the way in green hydrogen, starting with the NEOM Green Hydrogen Project. This project is the world’s largest of its kind and will produce 600 tonnes of clean hydrogen per day by 2026. It’s a monumental step toward decarbonizing industries and fulfilling Vision 2030’s sustainability targets.
How is ACWA Power innovating in water desalination?
We’ve made significant strides by moving to reverse osmosis technology, cutting our energy consumption by 87% over the past decade. Integrating solar power into our plants has also helped reduce grid dependency and environmental impact.
What excites you most about the future of ACWA Power?
The scale of the projects we’re working on is truly inspiring. Whether it’s green hydrogen, renewable energy, or water desalination, we’re leading the charge. The next decade is about expansion, innovation, and driving the global energy transition.
By asking the right questions and taking bold actions, Saudi Arabia is demonstrating its commitment to becoming a global leader in sustainable energy. Vision 2030 is not just a national initiative—it’s a symbol of the country’s unified ambition to drive innovation, diversify its economy, and take a leading role in the global energy transition. ACWA Power, as one of the key enablers of this vision, is paving the way with its groundbreaking projects in green hydrogen, renewable energy, and water desalination. The next decade will be about scale, innovation, and the realization of a future powered by clean, sustainable energy for the Kingdom and beyond.
