Acwa Names New Chief Executive
Energy and water firm Acwa has appointed a new leader, naming Dr. Samir J. Serhan as Chief Executive Officer, effective immediately. The company announced that Dr. Serhan previously served as President for Saudi Arabia and the Middle East, and was formerly COO of US-based Air Products.
The CEO transition is part of a planned and structured succession process overseen by Acwa's Board Nomination and Remuneration Committee. The company has stated that its long-term strategic direction will remain the same. Marco Arcelli, who has served as CEO since March 2023, will stay on as an advisor to the Chairman of the Board to facilitate a smooth handover. Dr. Serhan brings over three decades of experience in leading large-scale industrial and infrastructure organizations globally. Before his promotion, he had been with Acwa for a year as President for Saudi Arabia and the Middle East. His career includes a significant tenure at US-based Air Products, where he was the Chief Operating Officer with P&L responsibility for operations across the Americas, Asia, Europe, Africa, the Middle East, and India. Prior to his COO role at Air Products, which he was appointed to in 2020, Dr. Serhan held various executive positions within the company since joining in 2016. He was instrumental in securing and executing some of the largest and most complex projects in the company's history. His earlier career also includes 14 years with the Linde Group in leadership roles in the US and Germany. Acwa Power is a major player in the global energy transition, with a portfolio of 111 projects and an investment value of $114.8 billion. The company has the capacity to generate 93 GW of power, with 52 GW from renewable sources, and manage 9.3 million cubic meters of desalinated water per day. The company is aggressively expanding its renewable energy footprint. In February 2026, Acwa Power signed an agreement to develop 5 GW of renewable energy projects in Türkiye, including two 1 GW solar plants. This is part of a larger strategy that includes a potential $5 billion in foreign direct investment. This leadership change comes as Acwa Power continues to advance Saudi Arabia's Vision 2030, which aims to have 50% of its electricity generated by renewables by 2030. The company is developing giga-scale projects within the kingdom, including the 1,500 MW Sudair and 2,060 MW Al Shuaibah solar PV projects. Acwa Power is also a first mover in the green hydrogen sector. The company is involved in developing the Yanbu Green Hydrogen Hub, which is expected to be commercially operational by 2030, and is exploring green hydrogen and desalination opportunities in Türkiye.
