The independent panel of judges chose ACWA Power founder and chair Mohammad Abunayyan to win the lifetime achievement trophy at the IJGlobal ESG Awards 2024.

One of the judges said of Abunayyan that “he has had huge impact in the region over decades”, adding that “he is a deserving winner”.

Yet another judge said of the award winner: “In his role as chair of ACWA Power, Mohammad Abunayyan has provided compelling indications of some brilliant initiatives.”

Mohammad A. Abunayyan is a distinguished leader in the global energy transition and water sector, well recognised for his commitment to enabling responsible and sustainable development.

As founder and chair of ACWA Power – a company at the forefront of the global energy transition – and a member of the board on various private and public organisations in Saudi Arabia, he has dedicated 4 decades of his life to driving transformative change in the kingdom’s private sector, and beyond.

Born in Riyadh in 1962, his journey began in the Kingdom of Saudi Arabia, where his father – Abdullah Abunayyan – was a pioneering entrepreneur in the agriculture sector.

It was his experience with Abunayyan Holding that laid the foundation for his understanding of business and keen eye for innovation and commitment to excellence.

Abunayyan established ACWA Power in 2004, recognising the need for a paradigm shift in desalination and energy generation, following the historic decision of the kingdom to progressively open the electricity and desalinated water production sectors to the private sector to own and operate assets.

The company quickly secured its first successful bids for desalination plants in Saudi Arabia, and, the rest is history.

These early successes in KSA catapulted ACWA Power’s growth, global expansion and business credibility internationally.

In recent years, ACWA Power has been ranked as the fourth most innovative company in the Kingdom of Saudi Arabia’s energy sector, and the ninth most innovative company by Forbes Middle East.

Today, ACWA Power is a global leader in private water desalination, energy transition and a first mover in green hydrogen, with 90 projects in 13 countries.

It supplies power and clean water reliably and responsibly, at low cost to millions globally.

Through drive, innovation and cost leadership, Abunayyan has effectively showcased ACWA Power’s potential to lead in the global energy transition. The company has been successful in driving down tariffs; making renewable energy more accessible for developing nations.

ACWA Power in 2021 launched its $1.2 billion IPO and was listed on the Saudi Stock Exchange – Tadawul. In a remarkable feat, it was oversubscribed 250x.

His strategic vision for ACWA Power has been guided by Saudi Vision 2030 goals, diversifying the kingdom’s economy and reducing its dependence on fossil fuels.

ACWA Power’s Rabigh 3 IWP, Sudair solar PV plant, the Red Sea Megaproject and the NEOM Green Hydrogen Company in Saudi Arabia – along with wind projects in Morocco and CSP in the UAE – these are some, but not all, of the cases that demonstrate his commitment towards renewable energy and sustainable development, within the kingdom and beyond.

His commitment to environmental stewardship is further noteworthy. ACWA Power has been at the forefront of adopting and integrating cutting-edge technologies to minimise environmental impact.

Under his guidance, the company has significantly expanded its portfolio of renewable energy projects, contributing to reducing carbon emissions and promoting clean energy.

The company’s initiatives in green hydrogen production are poised to revolutionise the energy sector, providing sustainable alternatives to fossil fuels.

ACWA Power is now (at the time of submission) well on track to achieving a 50/50 portfolio mix between renewables and flexible generation by 2030 and Net Zero emissions by 2050.

This is all the more impressive given that ACWA Power’s story emerges from humble beginnings only 20 years ago.

The chair firmly believes in giving back to the communities where the business operates, making social responsibility a top priority. Through strong public-private partnerships, the company has created numerous job opportunities, supported local economies, and invested in social infrastructure. ACWA Power continues to drive its ESG strategy in line with the UN’s Sustainable Development Goals.

Involving the youth in the changing energy landscape is paramount, and Abunayyan has always been a strong advocate for local talent development and the up-skilling of young minds.

ACWA Power partners with leading universities in KSA, technology companies, and strategic partners through an open innovation approach, giving young people a platform and opportunity to learn and showcase their ideas.

The company’s commitment to developing young talent is exemplified by the Energy and Water Academy (EWA). Established in 2009 as a non-profit vocational training institute in Rabigh, EWA offers technical training in 18 industrial specialties – including safety, renewables, and water desalination.

Over the past 15 years, EWA has graduated more than 15,000 young Saudis who now have successful careers at ACWA Power and other companies worldwide.

EWA is not only a testament to the company’s dedication to excellence but also the archetype of all other educational initiatives that the company undertakes globally, including the Shirin College in Uzbekistan.

Good governance and ethical leadership are central to his approach, earning ACWA Power a reputation for excellence in corporate governance.

Abunayyan is committed to transparency, accountability, and integrity – fostering a unique culture and robust risk management. This has been crucial in building trust and confidence among stakeholders, investors, and local communities.

His extensive network and strategic insights have positioned him as a thought leader in the regional and global energy sectors, while his legacy is not only defined by his past achievements but also by his commitment to future generations.

As the company celebrates its 20th anniversary in 2024, its diverse portfolio is a direct credit to the leadership of its founder and chair.