In a significant stride towards bolstering Saudi Arabia's power infrastructure, ACWA Power secured a SR14.6 billion ($3.9 billion) energy purchasing deal with Saudi Power Procurement Co. The agreement encompasses two state-of-the-art combined cycle gas turbine plants in Taiba and Qassim, each boasting a robust production capacity of 1,800 megawatts.

The 25-year validity of the power purchase agreement underscores ACWA Power's strategic commitment to sustained energy production. The financial impact is expected to materialize post the first half of 2027. Moreover, this deal follows ACWA Power's recent ventures, including a 30-year water purchase agreement with DEWA for the Hassyan seawater reverse osmosis plant. This aligns with ACWA Power's dedication to expanding its output facilities and contributing to the region's energy security.