ACWA POWER
2082 -0.18% 226.20 -0.40
Riyadh – Mubasher: ACWA Power company has received commercial operation certificates for three major solar projects in Saudi Arabia, holding a 50.10% stake in each, according to separate press releases.
In the Qassim Region, Nawwar Renewable Energy Company confirmed the initial commercial operation certificate for 1,000 megawatts (MW) out of the total 2,000 MW capacity of the ArRass 2 PV project.
In Riyadh, the SAAD 2 PV project company was granted the second commercial operation certificate for the remaining 365.70 MW, bringing the project to its full capacity of 1,125 MW.
Meanwhile, in Hail Region, Ishaa Renewable Energy Company announced the initial commercial operation certificate for the full 1,425 MW capacity of the Al Kahfah PV project.
It is worth highlighting that the financial impact of these projects is expected to be reflected in the second half (H2) of 2025.
In H1-25, ACWA Power Company posted an annual decline of 1.92% in net profits to SAR 908.97 million, against SAR 926.79 million.
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