ACWA Power signs SAR 13.40 billion deal: what it means for ACWA Power stock

Published on 10/15/2026 at 12:01 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

ACWA Power signed a SAR 13.40 billion power agreement for Qurayyah. ACWA Power stock stood at SAR 155.50 on October 15, 2026, and H1 profit was SAR 653.2 million.

Qurayyah project and stock context

Gulf Construction reported a SAR 13.40 billion power purchase agreement on October 14, 2026.
The Qurayyah expansion will provide 3,010 MW and ACWA Power holds a 40.00 percent stake.
ACWA Power stock stood at SAR 155.50 at 12:44 p.m. AST on Tadawul on October 15, 2026.

ACWA Power, SA15CGS10H12, Illustration mit AI erstellt.

ACWA Power (ISIN SA15CGS10H12) signed a SAR 13.40 billion power purchase agreement for the Qurayyah IPP Expansion, with the project designed to deliver 3,010 MW. Gulf Construction reported the agreement on October 14, 2026, citing the company filing to Tadawul.

Qurayyah adds scale and duration

ACWA Power holds an effective 40.00 percent stake in the project. The agreement with Saudi Power Procurement Company runs for 25 years from the expected commercial operation date and includes development, financing, construction, ownership and operation of a gas-fired combined-cycle plant.

The project also includes a 380kV electrical substation and readiness for carbon capture units. ACWA Power separately signed a SAR 8.60 billion power purchase agreement for a 2,000 MW wind project in Egypt, according to the same October 14 report.

What does the project mean?

The immediate investor question is timing rather than headline capacity. ACWA Power has said the financial impact of initial operations at the Taiba 1 and Qassim 1 projects is likely to begin in the fourth quarter of 2026, with initial generating capacity of 1,272 MW and 1,283 MW respectively, according to Gulf Daily News.

Three recent company milestones

ACWA Power reached financial close for the Rabigh 2 expansion with SAR 9.69 billion of financing on October 1, 2026. It announced the SAR 13.40 billion Qurayyah agreement on October 10, 2026, and the October 14, 2026 report detailed its 3,010 MW capacity and 40.00 percent stake.

Profit gives the stock context

For the first half of 2026, net income was SAR 653.20 million, including SAR 308.40 million in the second quarter, according to Argaam. That quarterly figure compares with SAR 344.80 million in the first quarter, placing the project pipeline beside a sequential decline in reported net income.

Stock stays near its yearly floor

ACWA Power stock was within its Tadawul 52-week range of SAR 149.40 to SAR 252.60 on October 15, 2026. The company trades under ticker 2082.SR on Tadawul and operates in utilities, according to Global Banking and Finance.

At 12:44 p.m. AST on October 15, 2026, the stock stood at SAR 155.50 on Tadawul, while its market capitalization was SAR 119.1 billion.