ACWA Power

This award recognises ACWA Power for commissioning 2.79 GW of utility-scale solar in a single operational year — among the largest single-year deployment records for any developer globally. Three projects received commercial operation certification in 2025: the first 1 GW tranche of the 2 GW ArRass2 PV project in Qassim, the full 1,125 MW SAAD 2 plant, and the 1,425 MW Al Kahfa project in Hail.

The company's portfolio stands at 95.7 GW across 110 projects in 15 countries, with a total investment value exceeding US$121 billion. ACWA Power's Develop-Invest-Operate-Optimize model provides a replicable financial architecture for renewable deployment in emerging markets, with record-low tariff wins proving that utility-scale renewables can outcompete fossil fuels commercially. For translating contracted capacity into commissioned generation at unprecedented pace, ACWA Power receives this recognition.

The systemic significance of ACWA Power's 2025 commissioning record extends beyond the megawatt figures. Its Develop-Invest-Operate-Optimize model has proven that a single developer can compress the timeline from contract award to commercial operation across the Middle East, Africa and Central Asia — markets where regulatory complexity typically delays delivery and where the energy transition is most urgent.

By repeatedly achieving record-low tariff wins, ACWA Power demonstrates that utility-scale renewables can structurally outcompete fossil fuels commercially. For that, ACWA Power receives this recognition.

Score: 95

Reference: https://www.pv-magazine.com/2025/08/22/acwa-power-commissions-2-79-gw-of-solar-in-saudi-arabia/