[6][7] Headquartered in Saudi Arabia, ACWA Power maintains regional offices in Riyadh, Jeddah, Dubai, Baku, Beijing, Cairo, Addis Abbaba, Jakarta, Amman, Rabat, Muscat, Johannesburg, Istanbul, Tashkent, and Hanoi.

[8] It invests in, develops, co-owns and operates a portfolio of 82 projects with the capacity to generate 55.1 GW of power and produce 8 million m3/day of desalinated water.

[12] In 2002, the Government of Saudi Arabia changed the regulations so that the private sector was permitted to own and operate utilities such as water and power plants.

The company was originally founded in 2004 as ACWA Power Projects, a joint venture between ACWA Holding (representing the Abunayyan Holding Company and Al-Muhaidib, today known as Vision International Investment Company) and the MADA Group for Industrial and Commercial Development (today known as Al Rajhi Group Holding) to take advantage of these new private sector investment and operation opportunities in the Saudi Arabian market.

[14][15][16][17] The company began international expansion in 2011 with the acquisition of Central Electricity Generating Company (CEGCO) in Jordan, and the signature of a joint development agreement for the Kirikkale Combined Cycle Gas Turbine project in Turkey, which subsequently won backing from the European Bank for Reconstruction and Development (EBRD).