Board of Directors

Mr. Mohammad A. Abunayyan is the Founder and Chairman of the Board of Directors of ACWA Power, a publicly listed company in the Saudi Stock Exchange (Tadawul), which is at the global forefront of the energy transition through transformative solutions in clean energy, water desalination, and green hydrogen.

An accomplished business leader with over four decades of experience in varied sectors, Mr. Abunayyan is widely recognized as a global reference in the water and energy sectors.

Founded in 2004, ACWA Power has emerged as an agile, high growth, power, water, and green hydrogen champion that is supporting achieving Saudi Vision 2030 goals and delivering power, water, and green hydrogen reliably and responsibly, at low cost, to communities in 12 countries across the Middle East, Africa, Central Asia, and Southeast Asia.

As Chairman of the Board of Directors, since ACWA Power’s inception, Mr. Abunayyan has remained focused on ensuring that the company’s operating model is founded on sustainability, technological innovation, cost leadership, and operational excellence coupled with developing strong public-private sector partnerships with a clear purpose to deliver the highest level of sustainable value to all stakeholders, while also focusing on driving community impact. He is a strong advocate and enabler of local talent and content in all the markets that ACWA Power operates in.

Mr. Abunayyan also serves as Chairman of Vision Invest, Dussur and is on the executive board of numerous reputed organizations in the Kingdom of Saudi Arabia and the region.

Raad Al-Saady is the Vice Chairman & MD of ACWA Power. In his current role, he oversees growth and business expansion along with providing guidance on strategy, human capital, stakeholder management and other strategic drivers. 

Previously, Raad was part of the Abdul Latif Jameel Company (ALJ), a successful and diversified Saudi business conglomerate, where he held several key leadership roles across ALJ’s business sectors, including his tenure as Vice President of Mobility. 

A strategic management veteran, Raad has over 20 years of experience in the financial services and automotives industry, including a stint in the technology venture capital sector in Silicon Valley, in California, USA.

An active board and committee member, Raad has served governance level positions across diverse organizations in aviation, retail, trade, and financial services, including Saudi Arabian Airlines, Morgan Stanley, Saudi General Authority of Foreign Trade, and numerous other reputable NGOs/firms.

Raad holds a Bachelor of Science degree in business management from Menlo College, in California, USA.

Mr. Paddy Padmanathan is a member of the Board of Directors of ACWA Power.

Paddy Padmanathan led ACWA Power from its startup phase 18 years ago and transformed it into a globally recognized company at the forefront of the energy transition. It is listed on the Saudi stock exchange with a market capitalization of over US$25 billion.

Under his leadership, ACWA Power has today become a leading developer, investor, and operator of power generation, water desalination, and green hydrogen plants, valued at US$75 billion. The company has a significant track record in large scale solar and wind energy development, and is a leader in water desalination, serving millions of people around the world. It is now making strides in the production of green hydrogen with the first plant at scale currently under construction.

After serving as President & CEO, Padmanathan has stepped down from his executive position to pursue his own business ventures, however he continues to serve as a member of ACWA Power’s Board.

Padmanathan’ s unwavering commitment to renewable energy and addressing the impending potable water crisis are enabling significant changes in the industry, creating opportunities for sustainable growth and progress towards a greener future.

He holds an engineering degree from the University of Manchester and a postgraduate qualification in civil engineering from the University of Lancaster.

Dr. Ibrahim Al Rajhi is a member of the Board of Directors at ACWA Power.
In a career spanning nearly 30 years across diverse sectors, Dr. Al Rajhi has demonstrated adaptability, dynamism and leadership. A highly educated business executive, Dr. Al Rajhi has worked and steered organisations in industries such as food and beverage, travel and tourism, logistics, real estate, construction and education.

He is an active Board member in several small and medium enterprises and non-profit organisations in Saudi Arabia.

Dr. Al Rajhi holds a Bachelor’s degree in Systems Engineering from King Fahd University of Petroleum and Minerals, a Master of Science in management from Hult International Business School, and a Doctorate in Human Resources Management from London Metropolitan University.

Mr. Fahed AlSaif is a member of the Board of Directors at ACWA Power. Mr. AlSaif currently is Senior Managing Director heads the Public Investment Fund’s Global Capital Finance Division, where he oversees PIF’s Global Capital Financing activities of PIF and its portfolio companies.

Mr. AlSaif worked on developing PIF’s green financing framework and obtaining an investment grade inaugural credit rating by international rating agencies, and subsequently launching PIF's debut international bond program; issuing the first green bond with a 100-year tranche, the first bond of its kind globally by a Sovereign Wealth Fund, simultaneously. Among other efforts that support PIF and its portfolio companies, Mr. AlSaif worked on diversifying the sources of capital to fund transformational projects across different sectors.

Mr. AlSaif holds several Board positions in national and international companies, including the chairmanship of the Aircraft Leasing Company (AviLease) and Emaar the Economic City.

In addition, Mr. AlSaif holds more than 25 years of experience in leading diverse functions including treasury, investment, debt capital management and corporate finance.

He started his career in the private sector and served senior positions in both Saudi British Bank (SABB) and HSBC Saudi Arabia for over a decade. Following his private sector stint, Mr. AlSaif then took on a public sector role within Saudi Arabia’s Ministry of Finance, where he served as a senior advisor to the Minister, His Excellency Minister of Finance, and establsihed and headed the ministry’s debt management function, later renamed as National Debt Management Centre (NDMC), where he served as the Chief Executive Officer and Board member

During his time at NDMC, he worked on Executing the sovereign medium-term debt strategy, and on the set up of the primary dealership (local sukuk), international sukuk and bonds, such as dollar-denominated bond program, negative-yielding euro-denominated bond issuance, obtaining the credit rating of the government, and government financings through Export Credit Agencies.

A graduate in information systems from King Fahad University of Petroleum and Minerals. Mr. Al Saif is also a member of PIF’s Management Committee and Management Liquidity Committee, and is also a chairman and member of multiple boards for PIF portfolio companies, Vision 2030 Realization Programs, government related entities and private companies including in the financial sector.

Mr. Ahmed Alhakbani is a member of the Board of Directors at ACWA Power.
Mr. Alhakbani has over 20 years’ experience in management.

He has worked in, and provided board-level steering advice to companies operating in diverse sectors such as information technology, food and beverage, energy, transport and logistics, aviation, and trade.

He is currently Chief Executive Officer of Al hulul Al Mobassatah Financial Company.

Prior to this role, Mr. Alhakbani served as the Governor and Board Member of the Saudi Customs Authority.

From 2016-2017, he served as Deputy minister for Foreign Trade at Saudi Arabia’s Ministry of Commerce and Investment.

A seasoned Advisor to Boards with in organisations such as GASCO, the Saudi Food and Drug Authority, Mr. Alhakbani started his career in the private sector, first at Microsoft, and then at Cisco Systems.

Mr. Alhakbani holds a Bachelor of Science degree in Computer and Information Systems from King Saud University and a Master’s degree in Business Administration from INSEAD.

Mr. Omar Al-Madhi is a member of the Board of Directors at ACWA Power.
Mr. Al-Madhi currently serves as the Co-head of Direct Investments - MENA Division at the Public Investment Fund (PIF), where he is responsible for overseeing investment opportunities in key strategic sectors in Saudi Arabia and the broader MENA region. Recognised as a leading corporate executive, Mr. Al-Madhi has over two decades’ experience driving strategic growth within businesses in the Kingdom.

Prior to joining PIF, he held the position of Senior Managing Director & Member of the Board at Abdul Latif Jameel (ALJ) Investments where he led the business’ domestic diversification strategy, driving ALJ Investments’ towards becoming the most trusted investment partner in Saudi Arabia.

Preceding his role at ALJ, Mr. Al-Madhi was appointed advisor to the Minister of Labor of Saudi Arabia, served as the CEO of Volkswagen Group Saudi Arabia, and held several positions at SAGIA, McKinsey and Saudi Aramco.

Mr. Abdullah Al Rowais is a member of the Board of Directors at ACWA Power.
Mr. Al Rowais has 30 years’ experience in Auditing, overseeing the function in Saudi Arabia’s foremost organisations in both the public and private sectors.

He is the Chief Auditor at Etihad Etisalat Company, better known as Mobily, where he has been serving since 2007.

Prior to his tenure at Mobily, Mr. Al Rowais held several positions; Associate General Auditor at Saudi Aramco, and as an Internal Auditor at Saudi Arabian Monetary Agency (SAMA), the Kingdom’s central bank.

Mr. Al Rowais holds a Bachelor’s degree in accounting from King Saud University and a Master of Science in computer and information from the University of Detroit Mercy.

Mr. Omar Almidani is a member of the Board of Directors at ACWA Power.
A seasoned business leader with over 15 years’ experience, Mr. Almidani has steered organisations across diverse sectors of activity.

He has gained extensive knowledge and experience in strategic forward planning, operating within the financial disciplines, methodical administration to deadlines and the application of modern leadership skills.

He is currently President and Chief Executive Officer of Vision International Investment Company (Vision Invest), a leading Saudi infrastructure development and holding company, with active investments across power and water, industrial gases, district cooling, wastewater treatment, transportation, and environmental solutions.

Mr. Almidani oversees Vision Invest’s affiliates and subsidiaries which have an active operational footprint across Africa, Asia and Europe.

Prior to joining Vision Invest, he held the position of Chief Executive Officer of Beatona, a subsidiary of Vision Invest specialised in environmental treatment infrastructure, waste management and recycling.

Mr. Almidani is also an active Board Member of several companies including Saudi Tabreed, Air Products Qudra, and Miahona.

He is a member of the Young Presidents Organization and holds a Bachelor of Commerce in Finance from the John Molson School of Business in Montreal, Canada.

Mr. Esmail Alsallom is a member of the Board of Directors at ACWA Power.

Mr. Alsallom is a financial services leader with extensive experience in banking and finance. He currently serves as the Chief Executive Officer of the National Infrastructure Fund, which is Saudi Arabia’s diversification mechanism that aims to injectover US$50billion in water, transportation, energy, and health in the next decade.

Before joining the National Infrastructure Fund, Mr. Alsallom led Al Rajhi Holding Group for more than 7 years, overseeing business’ operations in five key sectors: building solutions, contracting and infrastructure, financial services, Industry and real estate development.

Prior to this, Mr. Alsallom worked in corporate finance at Banque Saudi Fransi for nearly a decade as Advisor on multi-million dollar projects.

Mr. Alsallom holds a Bachelor of Science in industrial engineering from King Saud University.

Dr. Madelyn Antoncic is a member of the Board of Directors at ACWA Power.

Dr. Antoncic is a highly educated leader with nearly four decades’ experience in academia, banking and finance, intergovernmental organisations, and non-profit organisations.

A macro-economic specialist, she has taught at the Stern School of Business in New York and worked as an Economist at the US Federal Reserve.

Following her teaching and public service positions,Dr. Antoncic held roles at Goldman Sachs and Barclays where she oversawsenior functions in treasury and market risk.

She also spent five years at the World Bank as Vice President and Treasurer, where she led capacity building programmes that focused on asset, debt, and risk management.

Most recently, she has served as senior advisor for sustainability standards at global non-profit organisations.

Dr. Antoncic holds a Bachelor’s degree from Southampton University, a Master’s degree in philosophy and a Doctorate in economics, both from New York University.

Mr. Li Ping is a member of the Board of Directors at ACWA Power.

Mr. Ping currently serves as an independent Director at China State Construction Engineering Corporation Ltd.

An experienced management professional, Mr. Ping has three decades’ experience in the information and technology sectors where he has overseen several functions in global investments and expansions, mergers & acquisitions as well as the management and operations of companies going from private to public listings.

Amongst other positions, Mr. Ping was previously a Board member of the China Reform Holdings Corporation and CNIC Corporation, Chief Executive Officer of China Communication Corporation Services Ltd., Deputy Director General of China Telecommunications of the Ministry of Posts and Telecommunications.

Mr. Ping holds a Bachelor’s degree from Beijing University of Posts and Telecommunications, where he majored in radio communication engineering and a Master’s in Business Administration from the State University of New York in Buffalo.