ACWA Power, a leading power generation and water desalination company in Saudi Arabia, reported positive financial results for the nine months ending on 30 September 2024. The operating income increased by 12.5% compared to the same period in 2023, mainly due to investment gains and capital recycling. Net profit attributable to equity holders also saw a 16% increase, despite facing an impairment loss in a unit. The company, under the leadership of CEO Marco Arcelli, emphasized its commitment to operational improvement and providing reliable power and water access. ACWA Power's Chief Financial Officer, Abdulhameed Al Muhaidib, highlighted strong project mobilization and the achievement of financial close for 7 projects with a total investment cost of SAR 31 billion. The company's focus on growth was evident with 26 projects under construction, including significant developments in renewable energy such as wind and solar power projects in Uzbekistan, Saudi Arabia, and the UAE. ACWA Power's swift development and operational excellence were further demonstrated by the successful extension of purchase agreements in Oman and the quick completion of large-scale projects like the 700MW Ar Rass Solar PV. The company's strong financial performance and commitment to energy transition highlight its position as a key player in the global energy sector.