When large-scale infrastructure companies adjust leadership, it often signals more than a change at the top — it reflects long-term strategic alignment. For ACWA Power, the appointment of Dr. Samir J. Serhan as Chief Executive Officer marks a structured and carefully managed transition as the company accelerates global growth across renewable energy, desalination, and green hydrogen.
Effective March 1, 2026, Dr. Serhan assumes the CEO role following a board-led succession process designed to ensure continuity and governance stability. The transition was overseen by ACWA’s Board Nomination and Remuneration Committee, reflecting what the company described as a disciplined and forward-looking leadership framework.
Outgoing CEO Marco Arcelli, who has led the company since March 2023, will remain involved as an advisor to the Chairman to support a smooth handover. According to company leadership, ACWA’s long-term strategy remains unchanged.
From Regional President to Global CEO
Dr. Serhan joined ACWA last year as President for Saudi Arabia and the Middle East, positioning him closely within the company’s operational and strategic core. His promotion follows decades of experience leading complex, capital-intensive industrial operations across global markets.
Prior to ACWA, Dr. Serhan served as Chief Operating Officer at Air Products, where he oversaw global operations with full P&L accountability across the Americas, Europe, Asia, Africa, the Middle East, and India. His responsibilities extended beyond operations to include technology, engineering, manufacturing, and equipment functions.
Earlier in his career, he held leadership roles at Praxair and Linde Group, culminating in his position as Managing Director of Linde Engineering. Across more than three decades, Dr. Serhan has built a track record of operational transformation, disciplined growth execution, and institutional capability development — capabilities critical to scaling large infrastructure platforms.
Scaling a National Champion with Global Reach
ACWA has rapidly expanded its footprint over the past three years. Under Arcelli’s leadership, the company doubled its portfolio and is targeting another doubling by 2030. Today, ACWA produces approximately 25% of the world’s desalinated seawater, positioning it as the largest private water desalination company globally.
The company has also entered new markets including Azerbaijan, China, Kuwait, and Senegal, while strengthening its role in renewable power generation and advancing green hydrogen initiatives aimed at decarbonizing heavy industries.
Founder and Chairman Mohammad Abunayyan emphasized that the transition reflects institutional maturity rather than strategic redirection. He reiterated that ACWA’s focus on renewable energy, desalination, and green hydrogen remains firmly intact.
Infrastructure at Scale
Founded in 2004 and listed on the Saudi Exchange (TADAWUL: 2082), ACWA operates across 15 countries spanning the Middle East, Africa, Central Asia, and Southeast Asia. Its portfolio includes 111 projects in operation, advanced development, or construction, representing an investment value of approximately SAR 430 billion (USD 114.8 billion).
The company currently holds capacity to generate 93 gigawatts of power — 52 GW of which is renewable — and manages 9.3 million cubic meters per day of desalinated water. Its infrastructure supports nearly 34 million people with clean drinking water and provides power to almost 76 million people daily under long-term off-taker agreements and public-private partnership frameworks.
As global demand for reliable water and low-carbon energy intensifies, ACWA’s leadership transition comes at a pivotal moment. Dr. Serhan now takes the helm as the company deepens its role in securing energy and water resilience while scaling green hydrogen and renewable infrastructure across international markets.