RIYADH: ACWA Power, the Saudi-listed energy and water desalination company, has announced a 16 percent increase in its profits for the first nine months of 2024, underpinned by significant progress in its power and water production projects. For the period, ACWA Power’s net profit attributable to equity holders reached SR1.25 billion ($334 million), a rise fueled by a 12.5 percent increase in operating income, which reached SR2.36 billion.