SUBSCRIBE
PROFILE

ACWA Power acquires energy assets in Kuwait and Bahrain for $693 million

ACWA Power has signed an agreement to acquire stakes in power generation and water desalination assets in Kuwait and Bahrain for $693 million, further strengthening its position in the regional sector.

Share:

Subscribe for unlimited access to all energy sector news.

Over 150 multisector articles and analyses every week.

Your 1st year at 99 $*

then 199 $/year

SUBSCRIBE — 99 $ for the 1st year

Create a free account to read this article

*renews at 199$/year, cancel anytime before renewal.

ACWA Power, a Saudi company specializing in energy production and water desalination, has completed an agreement to acquire stakes in energy assets in Kuwait and Bahrain for $693 million. The deal includes 4.61 gigawatts (GW) of gas-fired power generation capacity and 1.11 million cubic meters per day of desalination capacity.

Strategic Stake Acquisition

Under the terms of the agreement, ACWA Power will acquire an 18% stake in the Az Zour North facility in Kuwait. The company will also acquire 45% stakes in the Al Ezzel and Al Dur projects, as well as a 30% stake in the Al Hidd facility, all located in Bahrain. Additionally, ACWA Power will take over the companies responsible for the operation and maintenance of these assets, including Az Zour North O&M and Al Ezzel O&M.

Consolidating Regional Presence

This acquisition marks ACWA Power’s entry into the Kuwaiti market and strengthens its position in Bahrain, where it is already a key player in power and water supply. The Saudi company had recently submitted a bid for a new combined power and desalination plant in Kuwait, further illustrating its commitment to expanding in the region.

Long-Term Growth Strategy

The deal aligns with ACWA Power’s broader strategy to expand its business and reinforce its contracted revenue streams. The company aims to triple its assets under management to $250 billion by 2030. Acquiring assets in Kuwait and Bahrain is part of this ambitious plan.

The completion of the transaction is subject to regulatory approvals and stakeholder consent.

  • Popular on energynews.pro
Metacon confirms partial delivery and receives EUR 14.9 million
Nano Nuclear partners with Dioxitek to strengthen Argentina’s nuclear supply chain
Ohmium reduces electrolyser footprint to 29.7 m²/MW
Canadian Utilities secures AUC approval for Yellowhead gas pipeline project
Georgia Power launches targeted upgrades on its aging hydropower fleet
Martijn Hagens to lead Eneco from March 2026
Eneco’s Supervisory Board has appointed Martijn Hagens as the next Chief Executive Officer. He will succeed interim CEO Kees Jan Rameau, effective from 1 March 2026.
Data centres in Japan to drive 60% of electricity demand growth by 2034
With $28 billion in planned investments, hyperscaler expansion in Japan reshapes grid planning amid rising tensions between digital growth and infrastructure capacity.
Ørsted suffers historic drop and closes at around 26 USD after offshore project suspension
The suspension of the Revolution Wind farm triggers a sharp decline in Ørsted’s stock, now trading at around 26 USD, increasing the financial stakes for the group amid a capital increase.
Hydro-Québec increases net income and intensifies investments
Hydro-Québec reports net income of C$2.3 billion in the first half of 2025, up more than 20%, driven by a harsh winter and an effective arbitrage strategy on external markets.
Air Liquide acquires South Korean DIG Airgas for €2.85 billion
French group Air Liquide strengthens its presence in Asia with the acquisition of South Korean DIG Airgas, a key player in industrial gases, in a strategic €2.85 billion deal.
France: the government asks EDF to reassess the sale of its subsidiary Exaion
The Ministry of Economy has asked EDF to reconsider the majority sale agreement of its technology subsidiary Exaion to the American group Mara, amid concerns related to technological sovereignty.
IBM and NASA launch AI model to anticipate solar storm risks
IBM and NASA unveil an open-source model trained on high-resolution solar data to improve forecasting of solar phenomena that disrupt terrestrial and space-based technological infrastructures.
LPSC approves 3 new power plants to support Meta’s data center
The Louisiana regulatory commission authorizes Entergy to launch major energy projects tied to Meta’s upcoming data center, with anticipated impacts across the regional power grid.
Westbridge Reduces Common Shares by Four to Attract Institutional Investors
Westbridge Renewable Energy will implement a share consolidation on August 22, reducing the number of outstanding shares by four to optimize its financial market strategy.
T1 Energy strengthens its U.S. solar strategy and reaffirms 2025 targets
T1 Energy secures a wafer supply contract, signs 437 MW in sales, and advances G2_Austin industrial deployment while maintaining EBITDA guidance despite second-quarter losses.
Masdar mobilizes USD 1.685 billion for energy projects through green bonds
Masdar has allocated the entirety of its 2023–2024 green bond issuances to solar, wind, and storage energy projects, while expanding its financial framework to include green hydrogen and batteries.
Energiekontor issues a €15 million green bond for its European projects
Energiekontor launches a €15 million corporate bond at 5.5% over eight years, intended to finance wind and solar projects in Germany, the United Kingdom, France, and Portugal.
United States: 2024 Capex and M&A Strengthen Producers’ Energy Advantage
The 2025 EY study on 40 groups shows capex driven by mega-deals, oil reserves at 34.7 billion bbl, gas at 182 Tcf, and pre-tax profits declining amid moderate prices.
Ampol’s Half-Year Profit Drops 23% but Exceeds Market Expectations
Australian fuel distributor Ampol reports a 23% drop in net profit, impacted by weak refining margins and operational disruptions, while surpassing market forecasts.
Puerto Rico faces a sharp rise in power outages in 2024
Puerto Rico customers experienced an average of 73 hours of power outages in 2024, a figure strongly influenced by hurricanes, according to the U.S. Energy Information Administration.
CITGO posts $100 million net profit in second quarter 2025
CITGO returns to profitability in Q2 2025, supported by maximum utilization of its refining assets and adjusted capital expenditure management.
MARA invests $168mn to acquire 64% stake in EDF’s subsidiary Exaion
MARA strengthens its presence in digital infrastructure by acquiring a majority stake in Exaion, a French provider of secure high-performance cloud services backed by EDF Pulse Ventures.
ACEN reaches 2,100 MW of attributable renewable capacity in India
ACEN strengthens its international strategy with over 2,100 MWdc of attributable renewable capacity in India, marking a major step in its expansion beyond the Philippines.
RWE posts €2.1bn adjusted EBITDA in H1 2025 despite adverse wind conditions
German group RWE maintains its annual targets after achieving half its earnings-per-share forecast, despite declining revenues in offshore wind and trading.
OT Cyberattacks: Energy Sector Faces $329 Billion in Risks
A Dragos report reveals the scale of cyber vulnerabilities in global energy infrastructures. Potential losses reach historic highs.

Log in to read this article

You'll also have access to a selection of our best content.

or

Go unlimited with our annual offer: $99 for the 1styear year, then $ 199/year.

SUBSCRIBE - €99