ACWA Power, a Saudi-listed power and water projects giant, is set to increase its annual investment contribution to projects to $2-2.5 billion by 2030 after raising $1.9 billion through a rights issue. The company's long-term growth strategy includes tripling its assets under management to nearly $250 billion by 2030, with a focus on expanding investments in renewable energy, water desalination, and green hydrogen. ACWA Power plans to exceed 175 gigawatts (GW) in energy projects and produce one million tonnes of green hydrogen by 2030, with additional production expected from new projects. Key markets for the company include Saudi Arabia, Southeast Asia, and China. A significant portion of the capital raised will be allocated to projects in the Middle East and North Africa region.