ACWA Power signs SAR 13.4 billion deal: what it means for ACWA Power stock

Published on 10/13/2026 at 10:30 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

The Qurayyah project will add 3,010 MW under a 25-year agreement. For ACWA Power stock, the project carries a 40.00 percent stake.

ACWA Power signed a SAR 13.4 billion Qurayyah power purchase agreement on October 13, 2026.
The project has 3,010 MW capacity, a 40.00 percent ACWA Power stake and a 25-year agreement.
ACWA Power reported SAR 653.2 million net profit for the first half of 2026 and SAR 308.4 million for the second quarter.

ACWA Power, SA15CGS10H12, Illustration mit AI erstellt.

ACWA Power (ISIN SA15CGS10H12) signed a SAR 13.4 billion power purchase agreement for the Qurayyah IPP Expansion Project on October 13, 2026. Gulf Construction reported that the project will have 3,010 MW of capacity, a 40.00 percent ACWA Power stake and a 25-year agreement with Saudi Power Procurement Company.

Three project milestones

On August 6, 2026, ACWA Power reported second-quarter net income of SAR 308.4 million and first-half net income of SAR 653.2 million. Argaam lists the first-half 2026 profit and the second-quarter result in its earnings table.

On October 4, 2026, ACWA Power reached financial close for the SAR 9.69 billion Rabigh 2 expansion project, with 2,313.50 MW of planned generation capacity and a 40.00 percent stake. TradeArabia reported that the expected financial impact begins in the second quarter of 2029.

On October 13, 2026, the Qurayyah agreement added another large contracted asset to that project pipeline. The combination of 3,010 MW and a 25-year purchase agreement gives the announcement a long operating horizon, while the 40.00 percent stake defines ACWA Power's direct project exposure.

What does the deal mean?

The agreement covers development, financing, construction, ownership and operation of a natural gas power plant in Saudi Arabia's Eastern Province. Gulf Construction also reported a 380kV electrical substation and readiness for carbon capture units.

For investors, the key tension is the gap between project scale and near-term earnings conversion. ACWA Power's second-quarter net income of SAR 308.4 million was below its first-quarter result of SAR 344.8 million, while first-half profit reached SAR 653.2 million. Argaam identifies both quarterly figures and the first-half total.

Tadawul price and valuation

ACWA Power was trading at SAR 163.70 on Tadawul on October 13, 2026 at 11:12 a.m. AST. The market capitalization was SAR 125.4 billion, while the 52-week range stood at SAR 149.40 to SAR 252.60 at the same market snapshot.

ACWA Power's Tadawul ticker is 2082, and its latest reported first-half profit and current project awards place operating execution alongside earnings conversion as the central investor question. Global Banking and Finance identifies ACWA Power Company SJSC as Tadawul ticker 2082 under ISIN SA15CGS10H12.