Riyadh – Africazine: Exciting developments are unfolding within ACWA Power Company as it ushers in a new era of leadership. The board has appointed Mohammad Abdullah Abunayyan as Chairman for the next four years, marking a significant step forward for the company’s vision and strategic direction.
Joining him in this venture is Raad Esmat Al Saad, who has been named Vice Chairman. Their terms began on January 5, 2025, and will run through January 4, 2029. This new board is poised to bolster ACWA Power’s commitment to creating sustainable energy solutions and driving impactful projects across the region.
In addition to this leadership transition, ACWA Power recently made headlines by securing an impressive SAR 2.63 billion in funding for Egypt’s Wind Power Plant in Suez. This investment underscores the company’s robust commitment to renewable energy and its capacity to attract substantial financial backing for pivotal projects. The Suez Wind Power Plant is expected to play a critical role in bolstering Egypt’s renewable energy infrastructure, enhancing its energy independence, and contributing to its sustainability goals.
Furthermore, ACWA Power has reported remarkable financial performance. In the first nine months of 2024, the company achieved net profits of SAR 1.25 billion, a 15.97% increase from SAR 1.08 billion during the same period last year. This upward trend speaks volumes about the company’s operational efficiency and its successful adaptation to the evolving energy market.
As ACWA Power embarks on this new chapter, the leadership under Abunayyan and Al Saad is expected to drive innovation and sustainable growth, aligning with regional goals for energy diversification and environmental sustainability. With their strategic vision and a dynamic portfolio, ACWA Power stands poised to make waves not just in local markets but across the African continent.
This leadership shift and ongoing projects firmly position ACWA Power as a key player in the green energy revolution, showcasing potential benefits that extend through #NorthAfrica #MiddleEast and beyond. For those interested in the interplay of corporate leadership and sustainable development, this story is just beginning to unfold.
