Acwa Power Finalizes Bahrain Assets Acquisition from Engie

Acwa Power Bahrain assets deal marks a major change in who owns key water and power plants in Bahrain. The transaction shifts control from French utility Engie to Saudi-based Acwa Power and strengthens Acwa Power’s role in the Gulf utilities market. Deal overview Acwa Power has completed the purchase of Engie’s stakes in several large power and water desalination plants in Bahrain. The transaction is part of a wider agreement announced earlier in 2025 that covers assets in both Bahrain and Kuwait with a total deal value of about $693m before adjustments. The Bahrain part of the deal has now closed, while the Kuwait assets are expected to transfer once the remaining technical and regulatory conditions are met. Assets in Bahrain Under the deal, Acwa Power has acquired a 45