Acwa Appoints New CEO

Dr. Serhan's extensive background in industrial gases and green hydrogen at Air Products and Linde is seen as a strategic fit for Acwa Power's major ambitions in the green hydrogen sector. His appointment signals a reinforced focus on executing the company's large-scale hydrogen projects. Acwa Power is a key partner in some of the world's most ambitious green hydrogen projects, including the $8.5 billion NEOM Green Hydrogen Project, which will produce up to 1.2 million tonnes of green ammonia annually. The company is also developing a second major green hydrogen facility in Yanbu, Saudi Arabia, with a planned 4 GW of electrolysis capacity. The new CEO takes the helm from Marco Arcelli, who during his tenure oversaw a significant expansion of Acwa Power's portfolio. In 2025 alone, the company added approximately 25 GW of power generation capacity and 2 million cubic meters per day of water desalination capacity to its project pipeline. This leadership transition comes as Acwa Power rapidly expands its international footprint. In February 2026, the company signed a major agreement with Türkiye to develop 5 GW of new renewable energy projects, with an expected foreign direct investment of up to $5 billion. The company's portfolio now includes projects with an investment value of $107.5 billion, with a capacity of 78.85 GW of power and 9.5 million m3/day of desalinated water. Under former CEO Marco Arcelli, the company had set a goal to reach $250 billion in assets under management by 2030. Dr. Serhan's predecessor, Marco Arcelli, had been in the CEO role since March 2023, taking over from Paddy Padmanathan who led the company for over a decade and transformed it from a startup into a major global player in power and water. Padmanathan remains a board member.